Can NFLX trend higher ? LONGIn its past NFLX got through the Covid downturn with only a 10% correction, then went through
a rise into a year of consolidation and finally another big trend up which reversed badly in
Winter 2021. After a business model adaption and modification of subscriptions and
password/account sharing protections, price has made great gains. On the weekly chart,
a trend upward has been in place since July 2022. On the weekly chart, bigger ranged
candles have been put in for two weeks.
It seems that from here, while NFLX could rise heading toward a new all time high. On the
other hand, just as it did in 2020 at a similar price level ( marked as # 1 and an oval around
the price action), it could get range bound or consolidated ( # 2 marking the present.)
The mass index indicator gives a hint that the trend will continue and not reverse. It is
fluctuating in a mid-range without a hint of rising into the threshold and trigger zones.
Notably in the 2021 downturn, the RSI and MACD ZL) signaled the reversal before the
mass index. Those two indicators in the present show no hint of bearish divergence so far.
Accordingly, for the time being, NFLX continues to be a long trade with 20% upside into
the level of the all-time high ( discounting any effects of inflation and dollar devaluation
in any of this which is very important overall but generally ignored).
