Netflix (NASDAQ:NFLX) surged early Wednesday hitting a new, all-time high before giving up most of its gains.
The stock may be setting up for a topping tail on its daily chart. Remember, a topping tail is a bearish sign that usually signals a top in a stock or market. Should this candle form on the Netflix daily chart -- we'll know by day's end -- it means likely downside in the next few weeks and months. Stay alert as Netflix may be putting in a long-term top.