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13.01.202223:41 Forex Analysis & Reviews: NFLX stock price remains under pressure.

Relevance up to 16:00 2022-01-27 UTC--5
Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Despite the bounce in stock markets, NFLX stock price is making new lower lows after the weekly bearish signal it provided us last week. A bounce to back test the broken wedge pattern was justified, the rest of the market helped also, but NFLX stock price did not follow.

Exchange Rates 13.01.2022 analysis

Blue line- support line (lower wedge boundary)

Black line -resistance

NFLX stock price is breaking to new weekly lows. Price has the potential to break below $500 as the weekly chart has provided us with a bearish signal. There is no sign of a bottom or a sign that the downtrend is weakening. Even in the 4hour charts there is no such a reversal sign. Most probable scenario is for NFLX stock price to continue lower for the next week as well.

Alexandros Yfantis
Analytical expert of InstaForex
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