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Netflix Inc., Technical Analysis

2/3/2023 10:01 AM

The shares of Netflix Inc., an American entertainment company and movie and series streaming service, are trending correctively at 366.00.

On the daily chart, the price continues its upward trend within the global corridor with dynamic boundaries 293.00–385.00, once again reaching the resistance line.

On the four-hour chart, the upside potential is enhanced by the quotes approaching the 38.2% Fibonacci baseline correction at 371.10, consolidation above which will signal the next resistance – 50.0% Fibonacci at 434.00. The downward movement is possible only in case of reverse consolidation below 349.00.

Technical indicators keep a buy signal: the range of fluctuations of the EMA on the Alligator indicator expands upwards, and the AO histogram forms corrective bars above the transition level.

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