Apr. 25 at 2:53 PM
$NFLX rejected right at the 30-week EMA with volume—classic sign of supply stepping in. This leans toward Stage 4 (downtrend) behavior.
At this point, it’s less about “can it go up” and more about whether the rally has already failed. As long as price stays below the 30-week EMA, the structure favors lower highs and continuation downside.
Unless it quickly reclaims and holds above that level, this looks like a textbook failed rally.
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