NFLX just rejected resistance in the $300 for the second time and has fallen back below. It looks like price has formed a rising wedge of sorts and upon a breakout fo the structure, would see a breakdown to the $250 range. However, I don't think that will be the low as price has never tested that $250 support. I think it's likely that we'll break that support area and take out the previous lows ~$170ish before bottoming in the $148 region. Let's see how it plays out.
Note
There's also a chance, that it could blow through $148 and bottom at $104. Let's see what happens when price breaks $250 first.Note
Breaking down from the structure now.
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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.