empty
 
 

13.10.202115:26 Forex Analysis & Reviews: Weekly analysis on NFLX stock price.

Long-term review

Technically NFLX stock price continues to be in a bullish trend making higher highs and higher lows. However recent new highs have provided us with some worrying information. There are signs that the up trend is weakening and a major reversal could be near.

Exchange Rates 13.10.2021 analysis

Black lines- bearish divergence

Netflix stock price is making new highs but the weekly RSI is not. Despite recent new highs in price, the RSI is making a 2nd lower low top at overbought levels. This is an important warning signal that should not be taken lightly. This is not a reversal signal, but it is a warning for bulls to protect their gains. Price has made a steep rise from $500 price area to $650 approximately. A pull back is not only justified, but also needed in order for the bulls to gather some strength for the next upward move. At current levels I prefer to be taking profits and covering long exposure as a reversal might be imminent.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert of InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Can't speak right now?
Ask your question in the chat.