Created on Thursday, 12 September 2013 18:14
Written by Ryan Mallory
Netflix (NFLX) is by far one of the best stories of 2013.
They are the dominant online streaming companies despite the fact their fundamentals are pretty wretched.
Their climb back to $300 was fast but if you look at the chart you'll notice that during that same time it has been forming for most of 2013 a massive bearish wedge. I'm not sure it will break anytime soon, but if it does - watch out, because it is likely to drop fast - as it has a history of doing.
My best advice is draw the line in the sand and know where you are willing to get out. I've provided some support levels for you to be aware of as well.
Here's the chart analysis on Netflix: