Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Netflix stock price (NASDAQ: NFLX) corrected approximately 15% from the recent swing high.</a> </li> 
 <li> <span>2</span> <a>NFLX stock price dropped below the 50-day EMA.</a> </li> 
 <li> <span>3</span> <a>Netflix Inc. stock price entered a correction phase.</a> </li> 
</ul> 
<p>Netflix stock price (NASDAQ: NFLX) corrected approximately 15% from its recent swing high and formed a bearish pattern. It dropped below the 50-day EMA and showed initial signs of a bearish trend reversal.&nbsp;</p> 
<p>NFLX stock price broke the $400 support which triggered the negative sentiment and invited further fall. Meanwhile, the selling volume rose as well; indicating some big players may have sold NFLX shares.&nbsp;</p> 
<p>In the past few months, Netflix stock price consolidated in the wide range between $400.00 to $450.00.&nbsp;</p> 
<p>In the last quarter’s earnings, NFLX share price tried to break the higher range to expand upward. But the upmove was a bulls’ trap and the price showed a massive gap down.&nbsp;</p> 
<p>Later, the price continued to decline and retraced down to the 50-day EMA. In mid-August, the downfall took a halt near $400 and buyers tried their best to rebound.&nbsp;</p> 
<p>Unfortunately, the $450 level again turned out as a strong hurdle as bears took over control. At present, the price reversed down and eroded the previous gains. <a href="https://www.thecoinrepublic.com/2023/07/20/netflix-price-prediction-nflx-stock-price-showcasing-strength/" rel="noopener noreferrer nofollow">Netflix stock</a> price closed the previous sessions at $384.15 with an intraday decline of -0.56%.</p> 
<h2 class="wp-block-heading" id="strong-will-netflix-stock-price-decline-further-strong"><strong>Will Netflix Stock Price Decline Further?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/Lyl4eEwging5vPsXqTWqBn77nJ0Dp9pbJ7S2JHyZ1yFzNigxhqfjF8a81SifInbGrFjVi880oFbXzOR6wPH8NF1xejOKDqIK-7dwhiqgwk0omkXJ5QgxJc-wEZC-DhQYd9F3EVyjGBG_YkVXU_xWnkg" alt="Netflix Stock Price Below $400; Correction Began in NFLX Stock?"> 
  <figcaption class="wp-element-caption">
    NASDAQ: NFLX daily chart by <a href="https://www.tradingview.com/x/mNq6RVt7/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Netflix stock price (NASDAQ: NFLX) entered a correction phase and sellers seem to be highly active. Any short-term bounce toward $420.00 might face difficulty in sustaining on the higher levels.&nbsp;</p> 
<p>However, the price has corrected a lot in a short span of time so a narrow-range consolidation is expected. On the lower side, $377.00 will act as immediate support for the bulls.&nbsp;</p> 
<p>If the sell-off continues and the price declines below $377.00, then more downside will open. However, if the buyers come forward and succeed in defending the support, it may regain the $400.00 mark.</p> 
<h3 class="wp-block-heading" id="strong-nflx-stock-price-analysis-on-weekly-time-frame-strong"><strong>NFLX Stock Price Analysis on Weekly Time Frame</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp; 
 <div id="tradingview_a8c6e"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NASDAQ:NFLX",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "light",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_a8c6e"

}

  );

  </script> 
</div>  
<p>NFLX stock price formed a bearish candle on a weekly time frame. The <a href="https://www.thecoinrepublic.com/2023/07/20/netflix-price-prediction-nflx-stock-price-showcasing-strength/" rel="noopener noreferrer nofollow">stock price</a> closed near the crucial support. So, it will be interesting to see whether the buyers are able to defend the support or not.&nbsp;</p> 
<p>The MACD curve slopes down and displays a negative crossover. It indicates that a bearish momentum may continue for some more time. However, the RSI at 30 is near the oversold territory so a relief rally may trigger anytime from the lower levels.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Netflix stock price (NASDAQ: NFLX) corrected approximately 15% in the last two weeks. The stock price slipped below $400.00 and showed signs of a bearish trend reversal.&nbsp;</p> 
<p>The analysis suggests NFLX stock entered a correction phase. So 5% to 6% more downside is possible from current levels.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Resistance levels: $425.00 and $450.00</li> 
 <li>Support levels: $377.00 and $350.00</li> 
</ul> 
<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. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Netflix Stock Price Below $400; Correction Began in NFLX Stock?

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Thecoinrepublic.com

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