• Netflix support levels on the pullback

I’m not one to believe that the comeback is done and over with in Netflix (NFLX).

They’ve done an excellent job of creating original content and building new subscriber loyalty with their exclusive shows that finally allows consumers to justify their $7.99/month purchase. 

With Netflix earnings from yesterday missing, it appears to me to be more of analysts gone wild on their estimates and a sell into the news mentality and not necessarily an indication that Netflix will start falling on harder times yet again. 

As long as Netflix continues to differentiate itself from competitors like Hulu and Amazon (AMZN) and other online-streaming content the better off they will be. 

The chart analysis below shows that despite today’s hard drop, there is plenty of support underneath the stock that NFLX should be able to find support at and thus ideal entries to get long on this stock yet again. 

Here’s the setup on Netflix (NFLX): 

Netflix support levels on the pullback

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