My technical analysis for NFLX and why I am Bearish on the stock
My thought process/indicators: 1. NFLX has been in a downtrend since DEC/2021 2. Price is rejecting the Parallel Channel 3. TMA-RSI indicator is showing potential divergence 4. Weak support zone at 168.05$
My trading goal (R:S=2) 1. Wait for the price to break below "Consolidation" and ''Support." 2. Wait for closing 4hr candle before shorting 3. Set stop loss at: Consolidation zone ($185) 4. Set Profit target 1: $133 5. Set Profit target 2: $179
As allways, I am open to suggestions and comments, let me know what you think Cheers and happy trading!
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