Netflix stock continue to move within the correction and ascending channel. Moving averages indicate a short-term bullish trend for Netflix. Prices are testing the area between the signal lines, which indicates pressure from buyers of securities. At the time of publication of the forecast, the share price is 532.12. As part of the forecast, we should expect an attempt to develop a correction and test the support level near the 505.00 area. Further, a rebound and continued growth in the value of securities. A potential target of such a movement is the area above the level of 635.00.
Netflix Stock Forecast and Analysis February 2, 2021
An additional signal in favor of the growth of Netflix quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth option for the Netflix stock price will be a fall and a breakdown of the level of 475.00. This will indicate a breakdown of the support area and continued fall into the area at 375.00. Expect acceleration of the growth of shares with the breakdown of the resistance area and closing above the level of 605.00.
Netflix Stock Forecast and Analysis February 2, 2021 assumes the development of a correction and a test of the support area near the 505.00 level. Where can we expect a rebound and an attempt to continue the growth of the pair to the area above the level of 635.00. A test of the trend line on the relative strength index (RSI) will be in favor of raising the currency pair. Cancellation of the Netflix growth option will be a fall and a breakdown of the level of 475.00. This will indicate a breakdown of support and a continued fall in value to the area below the level of 375.00.
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