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16.04.202118:21 Forex Analysis & Reviews: Netflix stock price trapped in a trading range for nearly a year

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Netflix stock price is trading around $546. The stock price of Netflix has been trading inside the trading range of $575-$466 since May of 2020. Despite being in a bull market where indices make new all time highs, the stock price has been consolidating inside this range. This is not necessarily a bad thing. Why? Because we have confirmed boundaries that if broken will provide a new trend.

Exchange Rates 16.04.2021 analysis

Green rectangle- upper range boundary

Red rectangle- lower range boundary

Price is in a neutral trend as is mainly moves sideways. Trading near the green rectangle resistance area is an opportunity for bearish positions as a rejection could bring price back towards the red support area more than $100 lower. If price breaks above the green resistance area, stops are activated and the exit out of such trading range will provide an important bullish signal and will turn us bullish with a target around $675-$700 at least. Short-term trend is at $538 and if broken could lead to a pull back towards $500 at least if not lower.

Alexandros Yfantis
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