Netflix stock eases below SMAs in a neutral bias.
Netflix stock price posted a significant red day on Friday, heading below the short-term moving averages in the daily timeframe, creating a neutral bias. The RSI indicator dropped beneath the 50 level with strong momentum, while the MACD oscillator is weakening below the trigger line over the last three months, but it is still developing in the positive territory.
If the market
On the flip side, if the pair bounces up, immediate resistance could be met at the five-month high of 379 ahead of the 386.30 level, taken from the highs on October 2018. A jump above these lines would endorse the short-term bullish bias.
In the bigger picture, the stock is positive as long as it holds above the 20- and 40-week SMA, around 329 which are ready to create a bullish cross. In case it violates this cross, bears could take the upper hand.
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