United

Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NFLX stock price is close to the 50-day EMA near the lower trendline.</a> </li> 
 <li> <span>2</span> <a>Buyers are looking to surpass $450 but were rejected.</a> </li> 
</ul> 
<p>NETFLIX stock (NFLX) price faced rejection near the round mark of $450, resulting in a throwback toward the support near 100-day EMA. NFLX stock formed a rising wedge pattern and indicates volatility on the charts.&nbsp;</p> 
<p>Recently, NFLX stock posted its Q2 earning results per the estimates, but the stock outperformed in the past months as the sellers booked profits. However, the trend is strong, as NFLX stock surged over 80% in the past 6 months.</p> 
<p>From the start of 2023, NFLX stock has persisted on the rise and shown a major move showing buyer accumulation. Moreover, buyers did not look back and extend the rally, but the price is near the supply range, which acted as a barrier now, resulting in a fake breakout and retracement in the last session. Furthermore, the price is near the buying zone, and a bounce can be seen in the upcoming sessions.</p> 
<p>At press time, NFLX stock price traded at $427.78 with an intraday gain of 1.45%. A bullish engulfing candlestick near the lower trendline indicates that the stock is ready for a rebound. Moreover, the trading volume remained at 4.00 Million, and the market cap is $189.569 Billion. However, analysts maintained a buy rating with a yearly target price of $456.90, suggesting a growth outlook for the following sessions.</p> 
<p>Netflix, Inc. is an entertainment services company. The Company has paid memberships in over 190 countries with television (TV) series, films, and games across a variety of genres and languages. Its members can play, pause and resume to watch as much as they want, anytime, anywhere, and change their plans anytime. It offers various streaming membership plans, the price of which varies by country and the plan’s features.&nbsp;</p> 
<p>The pricing of its plans ranges from the United States dollar equivalent of approximately $1 to $26 per month. It allows members to receive streaming content through a host of Internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.</p> 
<h2 class="wp-block-heading" id="strong-nflx-stock-shows-rising-wedge-on-daily-charts-strong"><strong>NFLX Stock Shows Rising Wedge On Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/5y53lHis56d8D6LxiHTnTn36ffBsTTXvGvEMu1tiwnJCWC3fRjkb-CfQW0LYHRhdQ4Vm0lnxHa4KBaoWcJAdQ5B1oOEm6FpLsvgHlvaCIV2Y5y44E37vJckFWG-BR30wDxnZUiinBKsDz1_agpLQUts" alt="NETFLIX Inc. (NFLX) Price Persists in Surge, Will it Reach $500?"> 
  <figcaption class="wp-element-caption">
    Source: NFLX Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, NFLX stock price revisited the supply zone of $450 but failed to surpass and lost the gains.</p> 
<p>As per the Fib levels, NFLX stock price is trading in bull territory, as the price and the price slipped toward the lower bollinger band.</p> 
<p>The RSI curve showed a negative divergence and slipped toward the oversold region. However, the trend is strong, and the stock may rebound toward $450.</p> 
<p>The MACD indicator showed a bearish crossover and formed red bars on the histogram signals of profit booking in the last sessions.</p> 
<h4 class="wp-block-heading"><strong>Conclusion:</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/07/20/netflix-price-prediction-nflx-stock-price-showcasing-strength/" target="_blank" rel="noopener noreferrer nofollow">NETFLIX stock (NFLX stock)</a> is trading near the 50-day EMA and the lower trendline. Moreover, the stock is in an uptrend and may revisit the swing of $450. However, the lower trajectory is near $400.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels:</strong></h4> 
<p>Support Levels: $420 and $410</p> 
<p>Resistance Levels: $450 and $470</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

NETFLIX Inc. (NFLX) Price Persists in Surge, Will it Reach $500?

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Thecoinrepublic.com

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