Be patient with NFLX
This is why I'm taking a cautious and patient approach with NFLX on my watch list.
On a bigger picture we are technically still in a downtrend from the ATH drop of NOV 21'. And this last year rally is potentially just a huge bear flag.
There are notable gaps to be filled in both directions from here.
$460-$465
$481-$509
$392-$354
$481 plays a huge key level as it previously acted as a strong support and recently resistance. A break and hold above this level can see a push to the gap fill. This slight pull back out of an overbought scenario on the RSI can be just the launch pad we need to see this gap fill.
At the same time, price has space to move in either direction.
Thoughts?
Trade responsibly, pure speculation.
On a bigger picture we are technically still in a downtrend from the ATH drop of NOV 21'. And this last year rally is potentially just a huge bear flag.
There are notable gaps to be filled in both directions from here.
$460-$465
$481-$509
$392-$354
$481 plays a huge key level as it previously acted as a strong support and recently resistance. A break and hold above this level can see a push to the gap fill. This slight pull back out of an overbought scenario on the RSI can be just the launch pad we need to see this gap fill.
At the same time, price has space to move in either direction.
Thoughts?
Trade responsibly, pure speculation.
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