Easy Buy on Netflix - Breakout of Ascending Channel !
Netflix is currently down almost 50% from its all time high in Nov 2021.
Currently traded in an ascending channel since Oct 2022 and briefly broke out above with strong volume to close at 357.42 as of market close.
Now we look for some profit taking and pullback to retest the top of the channel
Buy zone is:
336 - 357
Take profit:
393
Now we have the 50 EMA crossing the 200 EMA, with the 100 EMA close behind. A cross of 100 EMA will signal stronger bullish momentum on Netflix stock, giving us more room for upside.
Currently traded in an ascending channel since Oct 2022 and briefly broke out above with strong volume to close at 357.42 as of market close.
Now we look for some profit taking and pullback to retest the top of the channel
Buy zone is:
336 - 357
Take profit:
393
Now we have the 50 EMA crossing the 200 EMA, with the 100 EMA close behind. A cross of 100 EMA will signal stronger bullish momentum on Netflix stock, giving us more room for upside.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.