Netflix stock (NASDAQ:NFLX) has experienced a huge gap downwards following the bearishness that started in November 2021. Prior to that time, the market was in a bullish trend; but that has changed now.
As it was said earlier, the current bearish trend started in November last year and it has lasted till now. The bearish movement has become especially significant as a result of the gap-down that was experienced around the middle of January.
The gap down has sent price below the lower
Trendline and the RSI 14 has been in the oversold territory. While there may be
frantic effort from bulls to push the price upwards, the market has higher
chances of going downwards than going upwards.
This year, NFLX will easily test the support
levels of 370.00, 360.00 and 350.00.
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