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Potential Topping Tail On Netflix, Inc.

|Includes: Netflix, Inc. (NFLX)

Netflix, Inc. (NASDAQ:NFLX) surged early in the trading day but has given up a majority of its gains. The stock made a new all-time high before reversing. This may set up for a topping tail on the daily chart. A topping tail is a bearish sign that usually signals a top in a stock or market. Should this candle form on Netflix, Inc. on the daily chart (we will know at the close today), it means likely downside in the next few weeks and months. Be on watch, be on alert. Netflix may be putting in a long term top.

Gareth Soloway