Netflix - SHORT (54% profit) / where to buy (NEW)

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

Comment:

The price moving in the rising channel. Still bullish

Comment:

The price is approaching resistance slowly. One more push and the correction is expected on this one

Trade 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.