Netflix - SHORT (54% profit) / where to buy (NEW)
Updated
In May 2022 Netflix has hit lows seen last time in September 2017.
Since then NFLX has been on a steady rise. It looks like the price is in some kind of a rising channel.
Indicators such as MACD or RSI are implying more upside in the next weeks. It looks good for bulls. Around $380 we may see a rejection as it's a huge resistance now. We expect bears to take over from there and the downtrend to resume. If the price drops 54 % from there we could see a potential higher low /double bottom which would be mega bullish and would help bulls to confirm the long-term uptrend.
-Short at the strong resistance
-exit for shorts / buy area: $177 - $170
Most likely it will take many months for a price to reach a buy area therefore patience is required .
Good luck
Since then NFLX has been on a steady rise. It looks like the price is in some kind of a rising channel.
Indicators such as MACD or RSI are implying more upside in the next weeks. It looks good for bulls. Around $380 we may see a rejection as it's a huge resistance now. We expect bears to take over from there and the downtrend to resume. If the price drops 54 % from there we could see a potential higher low /double bottom which would be mega bullish and would help bulls to confirm the long-term uptrend.
-Short at the strong resistance
-exit for shorts / buy area: $177 - $170
Most likely it will take many months for a price to reach a buy area therefore patience is required .
Good luck
Note
The price moving in the rising channel. Still bullishNote
The price is approaching resistance slowly. One more push and the correction is expected on this oneTrade active
The price is getting rejected at the key resistance.Trade active
The price is retesting the bottom of the rising channel. If it breaks down, we should see a nice dump.
If it bounces from here, it may retest the key resistance again.
Trade active
The price broke down the rising channel. We should see more downside on Netflix.
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