Looking like Netflix may have found a bottom. With ER sell off the price checked back to the trendline that started since 2013! Moreover, the trendline check back area of $214 - $212 price area also coincide with 0.786 fib retracement of an uptrend that started in 2016.
When two or more technicals coincides, there is stronger possibility that we could get a bounce to $250 area (see yellow line).
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.
When two or more technicals coincides, there is stronger possibility that we could get a bounce to $250 area (see yellow line).
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.