$NFLX
Added 2023-10-09 11:34:38 +0000 UTC$NFLX continues to concern me and the chart is showing that the price has broken down slightly from the megaphone pattern but hanging on by the 200 Day MA support.
We can also see that the 50 Day MA is starting to bend down now too.
I expect Prime to be the main driver of subscription TV going forward, their focus on improving content and integrating it into their Prime Membership means that more eyes will be watching Prime, they will also improve margins by offering AD and AD free content too.
If $NFLX loses the 200 Day MA here at $370....and it dipped below last week to $367, then $NFLX could be in trouble of dropping down all the way to our green Fibs at $285....the worse case scenario means it will go down to Wave C at the blue line at $162.
