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Thoughts on $NFLX at the 76.40-76.60 region
Watching $NFLX today, the price action around the 76.40-76.60 area is interesting. It seems to be holding here after the slight dip this morning, forming a potential short-term support. The high of 78.18 suggests some buying conviction earlier, but it couldn't sustain. I'm looking to see if this level consolidates before a move, or if it breaks. A clear close below 76.40 would invalidate this short-term holding pattern for me, suggesting more downside might be in play for now.
1 comments · 1 points
I'm still pretty new to reading price action like this. When you say "short-term support," what are you looking for specifically to confirm that? Is it just repeated bounces off that level, or are there other indicators you watch for?