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0 Netflix chart on a daily time scale provides clear technical inputs of a bearish setup for the stock price. Netflix stock price trendline has seen a long sideway structural pattern in a range between $480<$560, however, the trendline has drifted below the 200 days moving average and the Ichimoku Senkous A/B nuage with a bearish tenkan kijun line input. A small double bottom pattern at the $480 stock price support has been fading as well, overall technicals could hint to a repricing of the stock with support on NFLX $385.
Macroeconomic factors such as consumer prices inflations, consumer budget constraints, online streaming competitors and foreseeable corporate tax changes, should prompt a review from stock analysts of the already high NFLX p/e ratio 61, as withstanding growing revenues net profit margins could see some pressures.
NETFLIX CHART TECHNICALS ON A WEEKLY TIME SCALE
