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16.08.202115:44 Forex Analysis & Reviews: Bearish candlestick pattern in Netflix stock price.

Netflix stock price has mostly been moving sideways since the mid of July. Price has been trading sideways inside the trading range between $508 and $525. Current sideways movement is expected to end soon and price to enter a new trend. Our most probable scenario is for price to break support of $508 and move lower towards $493 or even $472.

Exchange Rates 16.08.2021 analysis

Green line - support trend line

Red lines- potential downside targets

NFLX stock price is vulnerable to a move below $500. This bearish scenario will be activated if price breaks below the green support trend line. As long as bulls defend this trend line, they have nothing to fear. Breaking below it will give us a sell signal. Bears do not want to see price push above the recent highs of $526.16.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Alexandros Yfantis,
Analytical expert of InstaSpot
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