Jul. 20 at 4:01 PM
$NFLX
Searching for the floor!
Streaming giant Netflix (
$NFLX) continues its short-term decline, falling -1.57% to
$67.87 as investors absorb broader rotation pressure.
$NFLX has lost its weekly 200SMA support, forcing price to search for deeper demand zones. The 0.618 Fibonacci retracement aligns with a historical volume Point of Control (POC), creating a key technical battleground.
The chart suggests price remains inside an ABC corrective structure. Holding this confluence zone could become the foundation for a potential recovery move.
Full
$NFLX Fib structure, key levels, and flow analysis are available on my profile.
The first reaction is rarely the final one.