After The Bell-NETFLIX Mid Day Update NFLX Jan 18th

On Jan 12th I noted a Bullish Doji that made a successful test of the zero number 90. The DOJI was confirmed by the positive price appreciation follow thru the following day.

Today we get this from Analyst:

FORBES

Netflix: Bernstein Cuts Target-Sees Slowing Sub Growth

Bernstein Research analyst Carlos Kirjner this morning chopped his price target on Netflix to $71, from $79, well below yesterday’s close at $94.72

The market got word of this downgrade prior to market open. The stock has fought off this news and is now positive. The shares have formed a bull flag while trading against a spike.

Conclusion: NFLX shares continue to exhibit bullish trends despite market attempts to keep the shares down. Shares have formed a bullish flag against a negative backdrop of analyst downgrades.

I continue to believe the turnaround is on the way and expect the shares to reach $150 to $200 over the next 3 months.

Tim Kathlina