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NFLX (Netflix) Stock Chart

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Support & Resistence points
If stock could be topping out and your thoughts
Show support points on the way down
Thanks

 

So Netflix has been on a tear recently. Besides the fundamentals and the news about every other day of them in talks with working with different companies, lets just look what the chart is telling us.  I would not feel comfortable saying the ride is over but that high of $334 is going to act as tough resistance.  If you are going to short this, I would def cover once that high gets taken out. May not be a bad idea because there is negative 10$ downside as of now if you short and next support is about $24 away. That is where I see the first line of support as marked on the chart. The RSI really is not showing clear topping out pattern but could be tricky at times. Also remember that with the whole Government shutdown thing, charts go out the window. If for some reason we default, the stock could tank right by support. If it were me, I would either short it and cover as soon as it takes out $334 or wait till it takes it out on good volume and buy it there.  If this stock does tank, $250 is where I would def pick up some shares as there is strong support there.



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