Jul. 5 at 1:55 PM
$NFLX Suddenly showing strength avoiding Thursday's selloff. Key Technical Levels I’m Watching:
The first area I’m watching is the 21-day EMA around
$77.50. Netflix is testing that level right now, making it an important near-term battleground. Holding above it would be an encouraging sign that buyers are starting to regain control.
Above that, the 50-day SMA near
$84.12 becomes the next major resistance zone. If Netflix can eventually reclaim that moving average, the technical picture would improve considerably.
On the downside, I want to see the stock remain above the 8-day EMA at
$74.66. Losing that level would suggest this recent bounce may have been little more than a short-covering rally.
Longer term, the 200-day SMA near
$96.12 remains the major hurdle separating Netflix from a full trend reversal. My full Deep Dive is live on my Substack.
