ColinCieszynski

Netflix turns downward from a completed double top

NASDAQ:NFLX   Netflix, Inc.
NFLX shares recently completed a double top near $190.00, short of the $200.00 round number and have dropped elow $180.00 to test their 200-day average near $177.95. Meanwhile the RSI is retesting 50. Breakdowns from here by either the share price or the RSI would signal a downturn with next potential support near $169.55, a 23% retracement of the previous uptrend or $163.90 the bottom of a previous gap and an established support level.

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