$Netflix(NFLX)$ Netflix looks to be basing inside the falling wedge. Currently, it's pushing up against the upper trend line. If you zoom out the chart, you will find that the stock has checked back to multi-year uptrend line that was started since 2013. Even with basing side way move the stock is tracking along upper trend line for the past several days. This basing side way action can resolve to reversal or continuation to the next leg down.
If the price breaks down, the stock could head to $129 area. On the other hand, if the reversal to occur, it could head to $227 area.
US Stocks Opportunities
Here are a theme that collects the best quality or your most bullish US stocks, Share your thoughts here!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments