Can NFLX rebound from the down turn after earnings?

24 Tem 2023

NFLX started a good trend up about June 25 and then pulled back in the day after the

earnings report. Although the earnings beat expectations, price continued to drop in

a VWAP breakdown shown here on a 2 hr chart. Over the 2 days that followed, price

has continued down at a slower rate and candle ranges are diminished. Importantly,

the zero=lag MACD shows a line cross under the histogram which has changed from

red /negative to green/positive. The lines have inflected upward. I see this as demonstrative

of bullish divergence and predictive of a reversal.

Overall, I see NFLX rebounding with a potential 15% upside. My target is 480 in consideration

of the swing high on July 18th with a stop loss of 415 the swing low of late June.

24 Tem 2023

Not

I have not shown the mass index indicator in an effort to avoid chart clutter. However the mass index crescendoed over 28 and dropped below the trigger
level of 26.5 and so has given a fairly reliable reversal signal.