Netflix, Inc.Short
Netflix Short Opportunity
MFI reads highly oversold, indicating a reversal in the downward trend
Expect resistance at either the pink line ~$332 or the TD line ~$328. (Green arrow ends at TD line)
Once price is rejected by resistance, we should see NFLX find support at the yellow line ~$313.
Trend could continue downward but there is strong support from the Ichimoku Cloud that could keep price up
Possible long to fill the horrendous gap it just created after support is tested.
Expect resistance at either the pink line ~$332 or the TD line ~$328. (Green arrow ends at TD line)
Once price is rejected by resistance, we should see NFLX find support at the yellow line ~$313.
Trend could continue downward but there is strong support from the Ichimoku Cloud that could keep price up
Possible long to fill the horrendous gap it just created after support is tested.
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