NFLX is in a strong uptrend after trying to fall through the channel, it went up to resistance the end of the day November 12th and slight rejection. NFLX could be looking to go up to the top of channel but shorter timeframes show there might need to be a support level it needs to hit first.
NFLX broke its uptrend line (one hour chart) and the indicators show potential bearish momentum. The dotted red and solid purple trend line will serve as potential support levels. If NFLX breaks $687 then it could be heading up to $700. Would not be surprise to see a rejection at the $687 resistance level.
NFLX broke its uptrend line (one hour chart) and the indicators show potential bearish momentum. The dotted red and solid purple trend line will serve as potential support levels. If NFLX breaks $687 then it could be heading up to $700. Would not be surprise to see a rejection at the $687 resistance level.
Note
NFLX started to enter a squeeze at the channel's midline, would not be surprised see a profit taking and regroup at the bottom of the channel
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.