NFLX to Maintain Short-Term Range Bound Between 420 /480

Analysis of Netflix (NFLX) Stock


NFLX appears to face a formidable resistance hurdle at 480, making it challenging for the stock to maintain levels above this threshold in the short term. This situation potentially sets the stage for a short-term reversal. In the event of such a scenario, investors might anticipate a bounce-back or rebound around the support levels of 420 and 436.

Netflix (NFLX) is currently encountering significant resistance around the 480 mark, indicating a challenging zone for short-term establishment above this level. Over the next six months, key support levels are anticipated to be within the range of 340 and 380, providing potential areas where the stock might find stability during downward movements.

For December 2023, the expected support levels are specifically noted around 420 and 436. In the event of a short-term reversal, it's likely that NFLX could experience a rebound within this range.

Looking at price targets, the projected target for NFLX in 2023 aligns with the resistance level at 480, while the forecast for 2024 suggests a target of 700.