Netflix resumes decline within descending price channel - Analysis - 09-11-2018

Netflix's stock returned lower while trading within a descending price channel in the short term, with negative pressure from the 50-day SMA, while the RSI reached overbought levels compared to the stock's movements, marking a final loss of 2.93%, or 9.58 points. 

Therefore we expect more losses for the stock, targeting the support of 295.05, as long as the resistance of 338.82 holds on. 

Expected trend for today: Bearish