Netflix shares experiencing sideway trades - analysis 01-07-2016

Netflix shares ended Thursday trades higher by (0.42 point) or (0.46%) of the previous closure after rebounding from 88.00 support, comes after the price responded to the  resistances represented by 95.50 level with the SMAs 50 and 100, comes after a bullish trails ahead the resistance 103.80 as  the highest recorded level during the previous trades, comes after the price to traded below the channel’s support, which the price moved within its range previously, causing the price decline passing the level 95.50, to face 88.00 support achieving the expected target for the broken channel, the price failure to pass the support pushed it again to retest the past week high levels around 93.00.

The price failed during the previous trades to hold above the resistance 101.50 to fall again passing 95.50 level with passing the SMAs 50 and 100.

Its recommended to stay natural waiting for new signals.