Netflix amid negative outlook - Analysis - 10-12-2018

Netflix's stock fell 6.27% in the last session, or 17.74 points, piercing the support of 271.90, which represents the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 178.38 to 423.21), with negative signals from the RSI after reaching overbought levels, coupled with negative pressure from the 50-day SMA. 

Therefore we expect more losses for the stock, as long as it settles below 271.90, targeting the next support at 236.16, which represents the ratio 76.4% of the same retracement levels mentioned above. 

Expected trend for today: Bearish