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14.09.2023 04:29 PM
Technical analysis on NFLX stock price for September 14th, 2023.

This image is no longer relevant

Green line -support trend line

Blue lines- Fibonacci retracement levels

NFLX stock was under pressure yesterday. Price is trading around $404. Technically trend remains bullish as long as price remains above the green upward sloping support trend line. However as we mentioned a few weeks ago when price was trading around $430, NFLX is vulnerable to a deep pull back. Our first target was to test the green trend line. NFLX stock price got rejected at the 61.8% Fibonacci retracement and remains vulnerable to a move lower at least towards $390. A break below the green trend line would be a new bearish signal.

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