Netflix commences descending correctional journey - Analysis - 23-10-2018

Netflix's stock kept falling in the intraday levels, recording a new loss of 0.94% in the last session, or 3.13 points, and confirming the breach of the main upward trend line in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI. 

Therefore we expect more losses for the stock, as long as it settles below 338.91, targeting the support of 271.22. 

Expected trend for today: Bearish