NFLX Breaking Down on Weekly Chart

NFLX continued trying to recover from its Monday plunge yesterday, but my expectation continues to be that NFLX resume its downward trend once this current bottoming attempt tires out. NFLX is currently struggling to stay above the steeper of the two uptrend lines drawn, with increasing downward momentum likely dragging NFLX towards the more prominent longer term of the two uptrend support lines intersecting at roughly $400. The weekly RSI, Stochastics and MACD are all currently turning down, with the weekly RSI and MACD exhibiting negative divergence with price, having formed a lower high in the last few weeks compared to the peak early in the year. Visit goo.gl/WTTUz8 for today's technical analysis on $EURCHF, $KC_F, $ZC_F, $CT_F, $NG_F, $NFLX, $TSLA, $BUXL, $USDX, $USDJPY, $EURUSD, $GBPUSD.

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