Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Netflix ($NFLX) Charts (Updated 5/14/15)

|Includes: Netflix, Inc. (NFLX)

Netflix has now formed a bearish harami. It is also technically known as an inside day formation. The candle formation was confirmed with yesterday's trading and now it must close below its new support at 580. With it recently reaching its heights from the bull pennant and combine that with the overbought indicators, this stock can move lower. It is likely to resemble the last bull pennant formation before earnings.

Netflix ($NFLX) charts (updated 5/14/15)