Netflix tries to vent off overbought saturation - Analysis - 18-01-2018

Netflix's stock (NFLX) fell in the intraday levels, registering a loss of 1.82% in the last session, or 4.03 points, after the resistance of 220.23 held on, as the stock tries to vent off overbought saturation in the RSI, in order to gather momentum to help it rise anew and breach that resistance, amid positive support from the 50-day SMA, with the dominance of the main upward trend in the medium and short terms. 

Therefore we expect the stock to return higher, provided the resistance of 220.23 was breached, targeting the next one at 246.59.