By Micah
CEO of Wall Street io
Feb 23, 2016
Here's a 1 year daily chart of NFLX, is it at Support?
Here's a 1 year daily chart of Netflix, Inc. (NASDAQ:NFLX) showing the stock has been time correcting for the last year.
Right now I'm seeing horizontal support at $80 and again at $96. The stock is currently trading inside this range so for now, we'll call these levels our over / under areas. Over $96 is bullish and Under $80 is bearish.
NFLX PayDayCYcle is neutral which means the stock is not currently in a bullish or bearish cycle.
PayDayCycles are 4-8 day trends in stocks that help people swing trade. To learn more about PayDayCycles make sure to grab the free - Swing Trading Class on the right sidebar.
NFLX MACD is crossed to the bulls and trending higher, however could be slowing a little as the stock goes sideways.
Case for the Bulls: The stock seems over sold however it may travel up only to get rejected by the top of the down trend line shown on the above daily chart.
Trade Safe!