NETFLIX-Important bearish patterns detected

James D.Touati alias "The Wolf of Zurich" proposes you a new approach for users and members, with new posting styles, short formats, graphs, languages and publication frequency.

This publication was made in collaboration with Thomas Veillet.

Today, the 18th of September , "The Wolf of Zurich" (The WOZ) publishes on NETFLIX.

Netflix would no longer be in the odor of sanctity among its shareholders
 
Netflix is starting to show signs of fatigue on the chart and it may not just be a technical figure, but there may also be something rotten in the realm of Red Hastings. Is the relationship between the king of Streaming and its shareholders changing?

A word from the “Wolf of Zurich”:
Technically, The Wolf has detected two bearish figures which are as follows:

The first is a bearish Wolfe wave which would take the price towards $330, if you draw a 2-4 trendline (WW 2-4).
The second is a harmonic figure called NEN STAR, which on the chart gives a PRZ (Potential Reversal Zone) around $133.
However, it is customary to take your “Take Profit” (60-80%) around the 50% of a Fibonacci retracement, therefore around $324.40, and to let the rest of your position run with a STOP BREAKEVEN (Stop on his position ).
Add to this a bearish divergence of the RSI validated on July 20, 2023, The “WOZ” therefore offers you the following possible downward objectives:

377.10 = EMA-Daily.200.
324.40 = 50% Fibonacci.
286.30 = 61.8% Fibonacci.
232.06 = 78.6% Fibonacci.

I know it sounds “crazy”, but remember what I always say: “CHARTS NEVER LIE!” and " GREED is BAD!" ;-)

The fundamental interrogation

Netflix, the change in business model and investor perception is causing big waves on the streaming company's stock. As the graph of James D.Touati aka "The Wolf of Zurich" (WOZ) shows that the “technical” future of Netflix is not the most “serene”. On a Fibonacci retracement, we could “easily” reach $324.40 – but then why would Netflix go down, apart from the technical figure? Well maybe because things are changing. In fact, for years, the performance of the title has been closely linked to the number of new quarterly subscribers. Except that during the last publication, the number of subscribers skyrocketed, but the title nevertheless deflated. This may simply be because investors are focusing a little more on fundamentals than on the number of binge-watching fans. At the end of last week, the CFO of the king of streaming announced that margins would be reduced and that the “advertising business” was not yet really a “game changer”. We can therefore wonder if the shareholders who have been there for a long time are not giving up their arms while waiting for things to settle down, that is in any case what the technical figure suggests – a big fatigue to come before going points for the start of a new business model vision on the part of investors. Be careful when turning on the TV… ????

Thanking Thomas Veillet for his script on NETFLIX. You can find Thomas Veillet on his videos and on his site :

https://www.youtube.com/watch?v=l-vkdFTooxI

https://www.investir.ch/auteur/thomasveillet/

https://www.youtube.com/channel/UCdzJWqiG3jpnJNXMpz_l6Kg

https://www.youtube.com/@DkodTV

About SAMT and The Wolf of Zurich (WOZ) :
I publish everyday 7/7, in 20 countries, in 20 different languages. If you want to see more details and technical analysis you can follow me on Tradingview everyday.

And to know more about my technical analysis and how I can spot harmonic patterns, Wolfe wave patterns, and potential target estimations like a professional trader, then I invite you to register and become a member of our Swiss Association of Market Technicians SAMT, which is serious and recognized worldwide since 1986 Register here.

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--The Wolf of Zurich.

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"PAKA PAKA" ;-)

The WOZ.