TA on NFLX
After breaking out of its upward trend channel, we see strong upward movement to about $420. This is followed by a clear H&S pattern forming, which later broke the neckline right about the same time of the MACD cross.
RSI looking fairly oversold at the moment.
What to expect:
NFLX to bounce off the upper trendline of the channel, retest the neckline. If this fails, its likely to fall right through the channel into a downward capitulation. A strong support level to look out for at $200.
After breaking out of its upward trend channel, we see strong upward movement to about $420. This is followed by a clear H&S pattern forming, which later broke the neckline right about the same time of the MACD cross.
RSI looking fairly oversold at the moment.
What to expect:
NFLX to bounce off the upper trendline of the channel, retest the neckline. If this fails, its likely to fall right through the channel into a downward capitulation. A strong support level to look out for at $200.