NETFLIX will go higher - Long position (4h analysis)
As we can see on the chart NFLX has been uptrending and currently the price is respecting the upsloping support. We expect this trend to continue therefore our strategy is entering a long position close to upsloping support (now at 424,08 $).
The target would be at the upsloping resistance which is a top of this rising channel.
Invalidation of this trade would be a candle close below the usploping support. Protect your capital and setup the stop loss once you enter the trade.
As we expect SPX to push higher in the next days, NFLX should follow. However, upside potential may be limited as RSI is overbought on the weekly time frame.
Good luck
The target would be at the upsloping resistance which is a top of this rising channel.
Invalidation of this trade would be a candle close below the usploping support. Protect your capital and setup the stop loss once you enter the trade.
As we expect SPX to push higher in the next days, NFLX should follow. However, upside potential may be limited as RSI is overbought on the weekly time frame.
Good luck
Trade closed manually:
Invalidated
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