NFLX has enjoyed an awesome run in its two year red line ascension channel. Several weeks ago, when the short term red channel intersected the long term blue channel, the price stalled at the juncture and it has been fading slowly over the last couple months.
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A few weeks ago, the price stretched downward in a single weekly bar to tag the lower red line and then popped back up. It appears that investors are not satisfied with that type of a test of its lower red ascension channel line as it has basically gone sideways after the sudden dip. NFLX may be forced to build an incline base right on the lower red line to prove that it has another wave upward in its red channel.
Trade well my friends
Alan
