We can see from the Weekly timeframe, that this crash in $NFLX is heading towards some substantial resistance, in the form of moving averages and previous highs / breakout highs.
You could perhaps (on the indication of reversal, on the 4H chart) take a long (leap) play, in light of the fact, that this drop was so substantial, we cannot have that much further down to go.
Then again.... of course, it could turn out we have much further down to go, and thus we use stop losses, as at best, we can never be sure of anything in the Markets.
So, I'll remain neutral for now, however, I'll be looking for that reversal.
*Side note, not that this is worth anything at all... We've blown through even the most bearish analyst estimates for the stock price*
Forward P/E 24.57.
You could perhaps (on the indication of reversal, on the 4H chart) take a long (leap) play, in light of the fact, that this drop was so substantial, we cannot have that much further down to go.
Then again.... of course, it could turn out we have much further down to go, and thus we use stop losses, as at best, we can never be sure of anything in the Markets.
So, I'll remain neutral for now, however, I'll be looking for that reversal.
*Side note, not that this is worth anything at all... We've blown through even the most bearish analyst estimates for the stock price*
Forward P/E 24.57.