Technically, on the Ichimoku Daily Chart, NFLX has goes below the kumo support.
A definite short from 104 and below as it fails to hold.
However, we have to acknowledge that we are always incline to look at the round figures support as well; in this case support at 100.
And I expect a little counter-rally from 100 to 104.
But, I won’t consider a long for NFLX anymore unless there is a really good catalyst.
One reply on “Neflix (NFLX) : Breaks Kumo Support”
[…] Having break kumo support couple of days back on July 28, NFLX is now making an attempt to turn the trend around. […]