Netflix took a break in correction, continuation is expected

19 August 2022 148
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Netflix's stocks have successfully reached (and even exceeded) the growth goals as a result of surge of positivity after the quarterly report and a general bounce in the US stock market. It’s pretty logical that a number of market participants desiring to take profits has popped up, so some signals of correction decrease have appeared as well.

The Evening Doji Star pattern and the Stochastic sell signal might be observed on the chart. At the same time, the correction objectives are situated rather close – they are the maximum of April 20 at the level of 235 and the unclosed gap of August 9-10 at the level of 232. The price movement on Wednesday didn’t reach said levels, so one more attempt is expected.

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