Netflix Exhaustion

I’m a happy Netflix (NFLXsubscriber (again, check out Synecdoche, recently released there) but I think the stock is comically overpriced. Looking at the PSAR indicator, it recently “flipped bearish” after a very successful PSAR bull run.

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Backing up to look at more time, you can see how prices are being turned away from that horizontal. Keep in mind, this sucker still has a P/E of over 133. A bargain, it is not.

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The very long-term chart shows how the price has been contained within a huge ascending channel, and it is definitely closer to the top of that channel than the bottom.

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