romanreyhani
Short

NFLX heading to $70

NASDAQ:NFLX   NETFLIX INC
Between Summer and Fall of 2015, NFLX             has created a double top pattern. There were two possible necklines, one near $93 (lows of September 2015) and another at $85.50 (low from the China induced August 24 2015 spike). The stock traded around the $93 level this week and it looked like the stock might just avoid breaking through the $85.50 low. However, the tech bears dominated today and we saw the stock sink to a low of $81.86. Unless we see a recovery over the next few sessions, the medium term picture for NFLX             is not pretty. The next support level isn't until around $70, formed by the highs of Spring 2015 and the gap of April 2015. If that goes, we could be looking at $50. From the current standpoint, $70 seems likely, but $50 is a little more of a stretch, especially with the dive that the momentum indicators have taken (nearing oversold levels). But it would also be an awesome place to pick up some NFLX             on the cheap.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out