Netflix retests resistance of upside trend line - Analysis - 15-10-2018

Netflix's stock rose in the intraday levels, retesting the main upward trend line that was breached recently in the short term, while recouping some losses and venting off oversold saturation in the RSI, scoring a profit of 5.75% in the last session, or 18.46 points, countered with negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, targeting the support of 299.16, as long as it settles below 338.82. 

Expected trend for today: Likely Bearish