With a few strong days in a row, the Netflix share recently freed itself from the previous downward trend. Yesterday, there was also a technical buy signal that further improved the situation for the US streaming service’s share certificate. The latest price slide from $ 557.39 to $ 458.60 seems to have been ticked off – even if the Netflix share wobbled significantly in between and threatened heavy chart technical sell signals.
Ultimately, however, a broad technical support zone with an “emergency stop” at 444.49 / 449.52 dollars and a core area around 459/467 dollars held and the share price of Netflix was able to recover noticeably. On Thursday, this upward movement on the NASDAQ reached its previous high at $ 529.55 and went out of trading at $ 527.51. It’s a clear breakout above chart hurdles at $ 504.66 / $ 510.82, which could become support levels for Netflix stock in the event of another setback. However, the area where the paper has ricocheted up in the last few days remains of paramount importance as support. If the recovery movement remains intact, chart technical resistance levels for Netflix shares would be expected around $ 549/557 and around the all-time high of $ 575.35.
In the current early US pre-exchange, however, the title is in the red, which is due to the uncertainty in the market, especially due to the COVID-19 infection of US President Donald Trump is due.