Netflix Stock Swing Setup | $70 Support Level Breakdown

TL;DR

Netflix is in a confirmed downtrend heading toward $70 support, which could offer a swing trade reversal opportunity if buyers step in at that level.

Key Points

• 1.$70 is the key support level — previous resistance from November 2021, now potential bounce zone
• 2.Entry signal to watch: Green reversal candle at $70, followed by trend line break above $85
• 3.Conservative entry: Wait for two weekly closes above the trend line, or a breakout-pullback-retest pattern around $85-91
• 4.Upside potential: 40-46% profit target to resistance at $126-135 (all-time high)
• 5.Current status: Bearish, sellers in control — wait and watch, don't buy yet