Netflix reported solid earnings and a big jump in new subscribers last night resulting in the share price opening approx. 15% higher.
If closing above 388.70 today the bearish picture has been demolished. But if closing below 388.70 Bears could regain control with the share price resuming bearish trend as a result
Key indicator for Netflix to turn bullish will be the RSI indicator. If it is closing above 60 threshold the negative sentiment will be reversed and Netflix will have the potential to build an uptrend on that.
Medium-term - Weekly chart - Netflix is in a downtrend. However, with today’s higher opening it is jumping from the 55 weekly Moving Average . If Netflix can get back above 200 Moving Average there is further upside potential