Netflix is spiraling toward a 'recipe for disaster,' investor warns after downgrade $NFLX (via TradingNation)
— industry professionals largely agree that Netflix's near term isn't exactly motion picture worthy.
"A break below that level would certainly raise a yellow warning flag on the stock," Maley said. Netflix shares closed at $293.12 on Tuesday. "On a longer-term basis, the stock has formed a symmetrical triangle pattern, and looking at it, it's kind of at the lower part of that pattern," Maley said. "If it breaks below that lower line, which is … basically at about 260 right now, that's going to be a problem and that's going to change the flag from a yellow one to a red one.""You break below that, we've got some real problems," he said.
"I actually agree with the downgrade. I'm not so sure I agree with the rationale," he said in the same "Trading Nation" interview. "While I have no idea what subscribers will drop off, my concern is the valuation, and I think that investors are waking up to the fact that this company is not nearly going to grow as fast as the earnings are projecting."
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