Ascending broadening wedge pattern showing here..
Monthly RSI is over 80 which means NFLX stands a higher chance of tagging 700 before 1300..
Daily RSI and Money Flow is absurd
Weekly candle is outside Bollingerband
It's just red flag after red flag for this stock
I don't think this clears 1150 and I think the next stop is 900 before a dead cat bounce
Monthly chart
Bulls see a break out above yellow trendline but I see a fake out..
Price is extended way above monthly bbands and like I said before, the monthly RSI is approaching 90, that is not a combination for a sustainable breakout...
I think a 50% discount is coming for this stock in the next year
Monthly RSI is over 80 which means NFLX stands a higher chance of tagging 700 before 1300..
Daily RSI and Money Flow is absurd
Weekly candle is outside Bollingerband
It's just red flag after red flag for this stock
I don't think this clears 1150 and I think the next stop is 900 before a dead cat bounce
Monthly chart
Bulls see a break out above yellow trendline but I see a fake out..
Price is extended way above monthly bbands and like I said before, the monthly RSI is approaching 90, that is not a combination for a sustainable breakout...
I think a 50% discount is coming for this stock in the next year
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.