Netflix shares dropped 13.13% on Tuesday on disappointing results. On the daily chart, we saw a bullish break from symmetrical triangle on Monday followed by a bearish break below symmetrical triangle on Tuesday.
Volumes on Monday were at record highs in recent history. That adds credence to the view that the stock is unlikely to see a major bullish move in the near-term. Area around 90.00 is likely to act as strong resistance in the near-term, while a break below 84.81 on dau end closing basis would open doors for a further sell-off in the share.
Volumes on Monday were at record highs in recent history. That adds credence to the view that the stock is unlikely to see a major bullish move in the near-term. Area around 90.00 is likely to act as strong resistance in the near-term, while a break below 84.81 on dau end closing basis would open doors for a further sell-off in the share.
