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Netflix Inc., Technical Analysis

10/17/2022 11:25 AM

Shares of Netflix Inc., an American entertainment company, are on a corrective trend at 230.00.

On the daily chart, the price is showing a poor upward momentum, trying to reach the initial Fibonacci 23.6% retracement at 288.00.

The four-hour chart shows that the potential for upward and downward movement is approximately equal since the quotes are moving in a narrow sideways corridor of 212.00–250.00. Soon, the price may test the upper limit of the channel at 250.00, consolidation above which will open the way to 288.00.

Technical indicators keep a neutral signal: the range of EMA fluctuations on the Alligator indicator narrowed almost completely, and the histogram of the AO oscillator forms ambiguous bars in the sell zone.

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