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Netflix Inc., Technical Analysis

12/27/2022 10:08 AM

The shares of Netflix Inc., an American entertainment company and movie and series streaming service, are trending correctively at 295.00.

On the daily chart, the price continues its upward trend within the global corridor with dynamic boundaries of 286.00–333.00, having reached the support line and preparing for a reversal.

The four-hour chart shows that the growth potential is enhanced by the presence of a local price gap of 300.00–317.00, which the quotes tend to work out. In case of consolidation below the channel support line at 280.00, the decline may continue until reaching the October low of 253.00.

Technical indicators reverse towards buying: the range of fluctuations of the EMA on the Alligator indicator is still quite narrow, and the histogram of the AO oscillator forms corrective bars, being close to the transition level.

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