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Netflix Inc., Technical Analysis

2/17/2023 10:05 AM

The shares of Netflix Inc., an American entertainment company and movie and series streaming service, are trading in a corrective trend, around 350.00.

On the daily chart, the price continues its upward trend within the global corridor with dynamic boundaries of 315.00–400.00, reversing towards support.

The four-hour chart shows that the potential for a downward movement is gradually increasing, which confirms the possible formation of a Head and shoulders reversal pattern with the Neckline at 344.00. In case of its complete development, the quotes will be able to reach the support of the global channel, around 320.00.

Technical indicators are in a buy state: fast EMAs on the Alligator indicator are approaching the signal line, although they have narrowed the range of fluctuations, and the AO histogram is forming downward bars, approaching the transition level.



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