Nov. 22 at 1:39 AM
$NFLX is currently trading at
$104.31, below its 30-day moving average (MA30) of
$113.16 and 50-day moving average (MA50) of
$115.99, indicating a bearish market context. The Relative Strength Index (RSI) at 39.25 suggests that the stock is nearing oversold territory, which could lead to a potential reversal. The recent high of
$126.71 and low of
$103.81 indicates a tight range, with current price near the lower boundary.
Directional bias is bearish in the short term due to the price being below key moving averages, but the RSI may signal a bounce.
Suggested entry is at
$105.50, slightly above the current price to confirm upward momentum. Set a stop-loss at
$103.50 to manage risk. Target 1 is
$110.00, where resistance may occur, and Target 2 is
$113.00, aligning with the MA30.
Monitor for any changes in momentum or volume that could impact the trade.
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