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
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The price moving in the rising channel. Still bullish
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The price is approaching resistance slowly. One more push and the correction is expected on this one
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The price is getting rejected at the key resistance.
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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.
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The price broke down the rising channel. We should see more downside on Netflix.