Netflix Inc. stock (NASDAQ:NFLX) has been trending upwards gradually
since September 2019, after the prior bearish movement was ended that month.
There is still more room for bulls to push the market higher and higher.
The ADX period 14 is around the level 30, which shows a considerable
amount of momentum in the market. The DM+ is above the DM- , and while that is
not significant, it shows the bullish trend remains intact. The MACD default parameters,
has its signal lines and histogram above the zero lines.
There is a Bullish Confirmation Pattern in the market, and that shows
that NFLX can still go upwards for most part of 2020, reaching the resistance
lines at 380.00, 400.00 and 420.00. Short positions are not recommended in the
market.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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