$IWM, $NFLX, $MSFT Bulls Are Watching These Levels
Three charts are standing out for three very different reasons today.
1. $iShares Russell 2000 ETF(IWM)$ 🎯
The bearish setup from Saturday played out almost perfectly.
The downside targets were 292 and 289, and yesterday’s low came in at 289.40. Small caps are now down 1.7% this week, while the chart is starting to look oversold.
That opens the door for a technical bounce.
But bulls still have something to prove.
👉 $291.20 needs to be reclaimed to flip short-term momentum back up.
If that happens, 292.40 comes back into focus.
For now, I’m watching the reaction around 291.20 before getting too aggressive.
2. $Netflix(NFLX)$ 🍿
NFLX has been much more constructive since the extreme oversold reading around earnings.
And honestly, the setup makes sense.
The stock reached the 200-week moving average, the P/E ratio dropped toward historical lows, and a bullish RSI divergence appeared at the same time.
That’s a pretty strong technical combination.
The question now is whether the rebound can keep building.
🎯 Bullish above $81.
Hold that level, and the constructive setup remains intact.
3. $Microsoft(MSFT)$ 💻
MSFT had a similar setup, but with one important difference.
The 200-week moving average was tested, bullish RSI divergence appeared, and then price finally gave the confirmation signal with a hammer candle.
The trailing P/E sitting near historical lows added another layer to the setup.
Today, I’m watching for a gap fill first, followed by potential bullish continuation.
The key here is simple:
The setup was already there. Price action was the missing piece.
Now we get to see whether buyers can follow through. 👀
Three charts, three different stages:
$IWM → bounce needs $291.20
$NFLX → bullish above $81
$MSFT → gap fill, then watch for continuation
The levels matter. The reaction matters more.
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