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NETFLIX INC.: TECHNICAL ANALYSIS

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NETFLIX INC.: TECHNICAL ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL STOP
Entry Point605.00
Take Profit566.00
Stop Loss615.00
Key Levels560.00, 566.00, 600.00, 610.00, 613.00, 615.00, 628.00, 710.00
Alternative scenario
RecommendationBUY STOP
Entry Point628.00
Take Profit670.00
Stop Loss610.00
Key Levels560.00, 566.00, 600.00, 610.00, 613.00, 615.00, 628.00, 710.00

Shares of Netflix Inc., an American entertainment company and a streaming service for movies and TV series, are trading at 613.00.

On the daily chart, the price continues its corrective dynamics within the channel with dynamic boundaries of 710.00–600.00.

On the four-hour chart, the potential for a downward movement has increased significantly after breaking through the low of 628.00. Now, the target is the range’s support line at 600.00. A consolidation below will allow the quotes to reach 560.00.

Technical indicators maintain a stable sell signal: fast EMA on the Alligator indicator are located near the signal line, expanding the range of fluctuations, and the AO histogram forms downward bars in the sell zone.

NETFLIX INC.: TECHNICAL ANALYSIS

Trading tips

Short positions may be opened after the price declines and consolidates below 605.00, with the target at 566.00. Stop loss — 615.00. Implementation period: 7 days or more.

Long positions may be opened after the price grows and consolidates above 628.00, with the target at 670.00. Stop loss — 610.00.


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