On May 13, 2016, I published an article here on the Wyatt Research site that discussed in detail why I thought Netflix (NASDAQ: NFLX) was in the process of beginning to break down.
I thought it would be advantageous to do a follow-up video to that article, given the recent earnings report for Netflix that led to a roughly 14% price drop immediately following the announcement.
The Trouble With Netflix Stock
In today’s video I discuss the current state of affairs for this Wall Street darling stock as it now sits in a very ominous spot that could spell much more trouble ahead. In the very near term we could see a small trade higher but that could lead to a much larger selloff.
Making money in trading and investing is not just about buying a stock that goes up, but more importantly recognizing when that story is changing. That’s the key element right now with Netflix stock.
As I wrote in my piece in May, “I love my Netflix as much as the next guy, but I’m in the markets to make money, not for love of a company.” Please click on the play button below to view my video.