Technical Pulse: Netflix Inc December 7, 2021 608


Netflix Inc (US: NFLX) Technical price action indicates a potential return after the fulfilment of the double top formation in mid-November 2021:


  1. The bullish harami pattern was seen within the immediate support zone at US$601.29-US$616.74. Furthermore, the harami pattern is seen rebounding at the 161.8% extension of the previous double top formation, indicating a possible strong reversal ahead.
  2. RSI indicates a rally after dipping into the oversold region. Should it successfully cross above 40, the bullish upside will be confirmed.



*Expected timeline of the trade is 15 weeks from the date of report issuance.

*Price remains in a downtrend as displayed by Ichimoku. Also, neckline resistance at US$642.11 must be broken to further confirm the upside.




Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!

Featuring regular TA posts and requests to analyse specific stocks
Click to join!
Notify of
Inline Feedbacks
View all comments

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!