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Netflix Inc., Technical Analysis

3/6/2023 10:07 AM

The shares of Netflix Inc., an American entertainment company and movie and series streaming service, are trading at 315.00.

On the daily chart, the price continues its corrective dynamics within the global ascending corridor with dynamic boundaries of 312.00–400.00, having reached its support line.

On the four-hour chart, it is clear that the downside potential remains high, and the global channel support line at 312.00 could be passed this week. The key "bullish" level is the local high of last week around 326.00, consolidation above which will allow the asset to start growing.

Technical indicators are in a sell state: fast EMAs on the Alligator indicator are moving away from the signal line, expanding the range of fluctuations, and the AO histogram is forming downward bars in the sell zone.

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