YoY numbers are likely to fail, reports are rumored that their commercial version has been a failure and I do not believe that has been fully priced in. Adding in the current economical environment (eggs are a million dollars for 2), cheap subscription services are an easy thing to pull for the everyday consumer, aka NETFLIX customers. The only bullish argument I have on this is their subscription cost increased which could help offset some. As a content consumer of Netflix, I find myself looking less and less at that library as most of the good content has migrated to other services, but that's just me. I feel that PE is somewhat healthy in more stable economy, but high for where we are today. Analyst showing a low EPS but flat revenue. The miss on either and this could take a hard turn.
On the TA side, gap filled from the ER plummet a few quarters back, this is outside of a standard bear flag ration (I Believe but could be wrong), however I believe it is in play. RSI MA moving to overbought, MACD starting to show confirmation of reversal on signal and histogram. Options P/C at 1.3+ and today had a bit of a spike OTM puts.
As all things, I'm human and can often be proven wrong. Don't take this as financial advice, just me logging and sharing my thoughts. I am always open to an opposite opinion as those are the most valuable to me. Thanks!
On the TA side, gap filled from the ER plummet a few quarters back, this is outside of a standard bear flag ration (I Believe but could be wrong), however I believe it is in play. RSI MA moving to overbought, MACD starting to show confirmation of reversal on signal and histogram. Options P/C at 1.3+ and today had a bit of a spike OTM puts.
As all things, I'm human and can often be proven wrong. Don't take this as financial advice, just me logging and sharing my thoughts. I am always open to an opposite opinion as those are the most valuable to me. Thanks!
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Bottom of channel reached.