Will we get a buying opportunity at $400 this year?
I know, it some people think it's crazy talk. NFLX is forming a classic bullflag, winning Oscars, what could go wrong?
Looking at the pitchfork, NFLX is at the top and even after a 17% drop from all time high, it hasn't had a deep correction.
The classic argument is that NFLX was a stay at home play. But I disagree, NFLX is too integrated in people's homes and has a solid loyalty profile. Where I do think NFLX will struggle in 2021 and part of 2022 is Hollywood adapting to NFLX. Big Hollywood measures "box office success" -- while NFLX, shares "some" level of data with them, and that's it.... something about "watched by 75% of NFLX subscribers" just doesn't spell "success" for the Hollywood players still.
I think as things open, we will see a **temporary** break from NFLX. People will go to the movies, get the expensive popcorn. It's nostalgic and Hollywood loves it too.
With any such pressure, and possibly a weaker or unclear guidance at next earnings call, I expect these could be some great dips incoming.
I'm patient on this entry.
Good luck traders.
I know, it some people think it's crazy talk. NFLX is forming a classic bullflag, winning Oscars, what could go wrong?
Looking at the pitchfork, NFLX is at the top and even after a 17% drop from all time high, it hasn't had a deep correction.
The classic argument is that NFLX was a stay at home play. But I disagree, NFLX is too integrated in people's homes and has a solid loyalty profile. Where I do think NFLX will struggle in 2021 and part of 2022 is Hollywood adapting to NFLX. Big Hollywood measures "box office success" -- while NFLX, shares "some" level of data with them, and that's it.... something about "watched by 75% of NFLX subscribers" just doesn't spell "success" for the Hollywood players still.
I think as things open, we will see a **temporary** break from NFLX. People will go to the movies, get the expensive popcorn. It's nostalgic and Hollywood loves it too.
With any such pressure, and possibly a weaker or unclear guidance at next earnings call, I expect these could be some great dips incoming.
I'm patient on this entry.
Good luck traders.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.