Netflix Flashes More Downside
InTheMoneyStocks.com | Apr 03, 2018 02:23PM ET
Shares of Netflix (NASDAQ:NFLX) remain weak as investors flee high-beta, high-P/E technology names. As other content providers trade at P/E ratios of 15, Netflix at north of 100 makes little sense. In addition, the coming quarter growth is set to slow, which will put added pressure on the stock. The chart signals downside action to $227.75 in the second quarter of 2018. Once gap fill is achieved at $227.75, look for a strong swing-trade bounce.
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