$NFLX - Bears Piling Up Shorts On Netflix

The Netflix (NFLX) Bears are out of their hiding and have exponentially begun piling Shorts on NFLX. Despite a blowout quarter, investors don’t seem quite happy with Netflix’s forward guidance and as a result, have started unloading the stock. Now, it is important to note that as I type this post, NFLX is up 2.5% because of the following UPGRADE:

Netflix (NFLX) upgraded to Outperform from Neutral at RW Baird

The chart certainly doesn’t look appealing on NFLX, with the stock on the verge of breaking out of its Multi-Month Bullish Channel. This could escalate pretty fast. I’m a perma-Bear on NFLX with random bouts of Bullishness.

Here is a Daily chart of NFLX:

NFLX - Daily Chart

Recommendation: SELL

Price Target: $280

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