Today I took a closer look at the Netflix share, which is currently at a very interesting point from a technical chart perspective.
In recent weeks, Netflix shares have repeatedly failed to reach the psychologically important $1,000 mark and have repeatedly touched the support area of $820-840.
Should the share break above the $1,000 mark with significant volume in the coming days, I could imagine rising prices and a new ATH after a retest.
However, I think this bullish scenario is rather unlikely at present. Instead
I expect the price to either bounce off the $1,000 mark again or fall back significantly after a fake out. In this case, the support area at USD 820 - 840 is unlikely to hold, which could lead to a more pronounced correction.
