JPMorgan Downgrades Netflix Shares .

JP Morgan downgraded Netflix shares

from "Overweight" to "Neutral" following the stock's recent strong rally.

Netflix shares declined following JPMorgan's comments, falling 1.7%,

 and some corrections are expected.

On the other hand, the bank maintained its positive outlook.

It also raised its target price for the stock to $1,220 per share.

Technically :

 the stock is still moving in a strong uptrend, forming strong demand zones.

Some corrections are expected in the near term.

However, the outlook remains positive,

and it is advisable to look for buying opportunities.

We currently have several strong buying areas.

The first buying area is the $1,133 level.

These are considered strong demand areas,

and we expect to see another upswing from them.

However, if they are broken and close below them with a full-day candle,

we may see a continued corrective decline, reaching the next demand areas,

which are located at approximately $1,000, as shown on the chart.