$NFLX has been in a “Go” trend since mid May.
After hitting a higher high on June 20th, we saw Go Countertrend Correction Icons (red arrows) indicating that price may struggle to go higher in the short term. Price fell from those highs and has moved mostly sideways since, with GoNoGo Trend sprinkling in some weaker aqua bars. During this time GoNoGo Oscillator fell to test the zero level from above where we looked to see if it would find support. It did immediately and is rallying back into positive territory. Price is moving back toward the top of the horizontal channel. With momentum resurgent in the direction of the trend, we will look to see if price can break through resistance to set a new higher high.
