First of the Big Tech to report earnings tomorrow, clear resistance between $690-$700

Netflix has come across some resistance along the upper trendline of the wedge, which corresponds with the resistance created around the all-time highs. In our previous post, it was mentioned that this may be the case should the price test the resistance, as highlighted by the white oval. Due to the rejection, the shares have started to sell off somewhat, with the share price now trading around $649.96 a share. As the streaming giant is set to report earnings tomorrow, volatility is likely to be high. Upon disappointing results, the stock may test the support around $626.12 before potentially retracing toward the trendline support. The support along the trendline is currently around $600 based on the positioning of the stock heading into earnings. Towards the upside, Netflix would require an approximate gain of 8% to test the all-time high resistance following the earnings, or a clear 9-10% move to break above it. Looking at the technical indicators, we can see some momentum is starting to fade as earnings approach. The MACD seems to be turning negative on the weekly chart and the RSI has moved lower as it now reads 59, though still positive,