This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Netflix prices progressed creating higher lows since the beginning of the year. The search for record-high prices continues after witnessing a false break of the upper regression. The stock has been in an upward trend with prices hovering above the Ichimoku cloud since April 13th.

The $578 pullback at the top of the regression channel was supported by the momentum indicator. However, since then we have seen a shift as a bullish divergence keeping prices inside the lower regression channel.

Currently, prices are engulfed in the cloud and are ranging between the Tenkan and Kijun lines. These combined factors could indicate further strength past $500 which is at 23.6% of the Fibonacci retracement of the 289.41 – 573.29 leg.

Another test at the recent high past the median regression could again face resistance. However, a bounce to the downside would still keep prices within the channel and above the cloud, hinting at further upside.

The short term intraday also looks at the uptrend in th...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Tagged on: