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Netflix Inc., Technical Analysis

8/22/2022 11:25 AM

The shares of Netflix Inc., an American entertainment company, are on a corrective trend at 241.00.

On the daily chart of the asset, the price continues a poor upward trend, trying to close the price gap from April 20, located between 250.00 and 350.00.

The four-hour chart shows that the potential for an upward movement is quite high, and the key factor may be the consolidation of quotes above the initial correction of 23.6% Fibonacci around 286.00. The closing level of this gap is around 250.00, which is currently being tested by the trading instrument.

Technical indicators keep a buy signal: indicator Alligator's EMA oscillation range expands upwards, and the histogram of the AO oscillator forms multidirectional bars in the buying zone.

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