Netflix (NFLX) Forming Strong Base Near 200 EMANFLX has corrected from its recent highs and is now approaching a strong support zone near the 200 EMA on the weekly chart. Price is showing signs of stabilization after a healthy pullback.
The RSI is currently near oversold territory, indicating weakening selling pressure and a possible momentum shift. Historically, NFLX has reacted positively from this level, making it an important area for buyers.
Technical Observations:
• Price near long-term support (200 EMA)
• RSI approaching oversold zone
• Previous resistance turning into support
• Downtrend losing strength
Bullish Scenario:
If price holds above this support and shows confirmation, we may see a potential trend reversal towards:
• First Target: 95 – 100
• Second Target: 110 – 120
Invalidation:
A sustained close below 80 may weaken the bullish structure.
This is for educational purposes only. Always follow proper risk management.
