Overall Trend: Netflix is currently demonstrating a strong uptrend, effectively trading within a well-defined ascending channel since late February. This indicates robust buying interest and consistent higher highs and higher lows.
Key Support & Resistance: The $1200 level is acting as a crucial support zone, marked by a green shaded area where price previously found buyers. The stock is currently consolidating around the trendline support of the ascending channel.
Breakout Potential: A decisive breakout above $1272 (white horizontal line) would signal a continuation of the upward momentum, potentially leading to a retest of higher levels.
Price Targets: Should the breakout occur, the immediate short-term target is $1322. For a more extended outlook, the long-term target is $1400, residing at the upper boundary of the established ascending channel.
Disclaimer:
The information provided in this chart is for educational and informational purposes only and should not be considered as investment advice. Trading and investing involve substantial risk and are not suitable for every investor. You should carefully consider your financial situation and consult with a financial advisor before making any investment decisions. The creator of this chart does not guarantee any specific outcome or profit and is not responsible for any losses incurred as a result of using this information. Past performance is not indicative of future results. Use this information at your own risk. This chart has been created for my own improvement in Trading and Investment Analysis. Please do your own analysis before any investments.
Key Support & Resistance: The $1200 level is acting as a crucial support zone, marked by a green shaded area where price previously found buyers. The stock is currently consolidating around the trendline support of the ascending channel.
Breakout Potential: A decisive breakout above $1272 (white horizontal line) would signal a continuation of the upward momentum, potentially leading to a retest of higher levels.
Price Targets: Should the breakout occur, the immediate short-term target is $1322. For a more extended outlook, the long-term target is $1400, residing at the upper boundary of the established ascending channel.
Disclaimer:
The information provided in this chart is for educational and informational purposes only and should not be considered as investment advice. Trading and investing involve substantial risk and are not suitable for every investor. You should carefully consider your financial situation and consult with a financial advisor before making any investment decisions. The creator of this chart does not guarantee any specific outcome or profit and is not responsible for any losses incurred as a result of using this information. Past performance is not indicative of future results. Use this information at your own risk. This chart has been created for my own improvement in Trading and Investment Analysis. Please do your own analysis before any investments.
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