Netflix stock analysis. What to expect.

Today I analyze NFLX stock price movements.

Here I use my box strategy combined with Fib retracement.

NFLX stock price is in a long-term rising trend channel.
However, it has been kept in a 465-575 range since June last year, hence the box formation.
There was an unseccessfull box breakout attempt in January 2021 where the price reversed to a long-term support level.

Shorter-term Fib retracement was drawn from the low on May 2021 bounce and up to this day.

Pivot points:

• 0.786 level acted as a solid support.
  
• 0.382 showed a proper resistence level.
  
• 0.236 level which matches supply level of the box at 575 was viciously broken.
  

Now I believe the price is overextended.

I expect it to return to the 0.236 level at the very least.

If overall market situation is stable when that happens, I believe the stock will continue to grow higher.
Trade wisely and good luck!
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Disclaimer!!!
This is not financial advise.