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


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 …

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