28.12.202117:19 Forex Analysis & Reviews: NFLX weekly analysis.

Long-term review

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NFLX remains in a bullish trend as long as price is trading above $580. Price remains in a bullish trend making higher highs and higher lows, however traders need also to protect their gains because the upward sloping wedge pattern combined with a bearish divergence, is a bearish sign.

Blue lines- bearish divergence

Green line - support

So far price has provided us with warning signs that the weekly up trend is weakening. This does not rule out a strong upward move toward $700. In fact this is the primary scenario expected to happen as long as price is above $580. Failure to hold above this level, will turn us bearish.

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