AFRM has been stuck in a range at the bottom of its recent drop, consolidating.
I predict a break below the bottom of the channel (possibly after another retest of the channel top), retesting the recent low of 10.70 during an impulsive selloff Thursday.
Poor fundamentals (negative earnings, rising cost of financing, dropping consumer spending) provide a tailwind...
The current trend pushing to upper range of recent consolidation may be breaking down. The closer we get to the gap below gap below 267 the more we will fill it before breaking new highs.
Could potentially trade this down to 262, if confirmed.
385 is the key level.
NFLX gapped down to 385 in July 2018, then continued further.
It tried to rally back up but peaked in Oct @ 385.
Now we're testing 385 again for the 3rd time in 2 weeks.
Traders are taking a hard look at NFLX above 385. So far nobody is biting.
