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Technical Analysis: Netflix Shares Are Inching Toward a Big Price Gap

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Does anyone remember Netflix? After losing three-quarters of its value between November and May, the streaming-video stock may be trying to claw its way back.

The first pattern on today’s chart is the bearish price gap on April 20 after the business unexpectedly lost subscribers. NFLX drifted for months after the selloff but is now inching back toward that area. Traders may look for price to fill the gap.

Second is the tight price action since the subsequent report on July 19. Notice how pullbacks like …

For more, please click here to view the related idea and chart analysis on TradingView.

Netflix (NFLX), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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