NFLX Bearish Near Term, Bullish Long term
- Price action on the 4 hour chart is very interesting. We can see the price has been increasing in volatility ( see the mega phone pattern). These are usually bearish.
Price has broken down at the 370 resistance with a large 4 hr candle and appears to want lower. This is bearish.
We can also see the Tenken sen (green) and Kijun Sen (blue) has a large gap and price may want to bring them closer today. This is bearish.
There is a double bottom which suggest higher prices. We’ve had a very long rally recently and is due for a pullback but chart appears bullish after pullback.
RSI is showing bullish divergence while overbought. .. hmm.
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