Netflix’s stock analysis for today is examined using a 6 hour timeframe. Attention is paid in particular ~6 months of market action from a high of $419.75 July 18, 2018 to current date.
Retracement in the bullish trend from $419.75 up to ~$232.19 saw the price of Netflix break below not only its long term bullish trendline, but also below the bearish channel as indicated on the chart...both of which indicate further downside potential.
Price between $249.18 and $227.87 where a rising window does exist however did provide a floor for the price of Netflix which was followed by the current bullish swing.
Termination of bearish momentum and also recovery of price above its major trendline and also breaking above the upper boundary of the bearish channel currently both imply higher prices with the minimum price expectation for Netflix being the high made on July 18, 2018 of ~$419.75.
A pull back in price to either the upper boundary of the Bearish channel or a retest of the bullish trendline is plausible after which prices should continue higher.
Retracement in the bullish trend from $419.75 up to ~$232.19 saw the price of Netflix break below not only its long term bullish trendline, but also below the bearish channel as indicated on the chart...both of which indicate further downside potential.
Price between $249.18 and $227.87 where a rising window does exist however did provide a floor for the price of Netflix which was followed by the current bullish swing.
Termination of bearish momentum and also recovery of price above its major trendline and also breaking above the upper boundary of the bearish channel currently both imply higher prices with the minimum price expectation for Netflix being the high made on July 18, 2018 of ~$419.75.
A pull back in price to either the upper boundary of the Bearish channel or a retest of the bullish trendline is plausible after which prices should continue higher.
