NetFlix may fall to 578.00 - 591.00

Our pivot point stands at 697.

Our preference

The downside prevails as long as 697 is resistance.

Alternative scenario

The upside breakout of 697 would call for 720 and 734.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 668.845 and 652.0778). Finally, NetFlix is trading below its lower daily Bollinger band (standing at 634.76).

Supports and resistances

734 **

720 *

697 **

688

633.34 (USD-last)

604

591 **

578 *

566 **

Number of asterisks represents the strength of support and resistance levels.