NFLXD trade ideas
NFLX AnalysisPrice playing nicely to my last analysis. Right now, price has taken the clean highs at 485.00 where I'm expecting a bearish retracement, potentially into the bullish OB at 418.84. However, we do see a new bullish OB created at 460.50, which could be an area where price continues with the bullish order flow.
Netflix in large Cup and Handle PatternNetflix appears to me to be completing a large cup and handle pattern. The initial peak of the cup appears at a price level of about $485 while the base appears to be at a low of $345. This price difference is $140, so I suggest the possibility that a new price target for NFLX should be at $625.
The handle has just been broken in the upward price direction and I am trading this to that price target unless invalidation occurs. I am watching for the stock price to hold the $485 support that was once previously a resistance to confirm the trend and avoid invalidating the technical formation.
$NFLX: Huge long term signalVery nice signal popped on close in the last quarter in Netflix, upside gives it between 9.2 to 1 and 55 to 1 reward to risk, if the targets the Time@Mode signal projects are reached.
I suggest having some long term exposure to it, consider risk of a drop under 332.65 or a bit more, for sizing it, and that you need to hold until late 2026 perhaps.
The password crackdown and paying userbase growth is a nice catalyst here, and though competition is a risk, they seem to be doing well in increasing profitability for shareholders over time despite the many challenges of the streaming biz.
Best of luck!
Cheers,
Ivan Labrie.
Netflix Holds a Tight PullbackNetflix rallied sharply between mid-October and late November. Now, after a pullback, some traders may expect further upside.
The first pattern on today’s chart is the September closing high of $448.68. NFLX held that level last week. Has old resistance become new support?
Second, the price area matches a 50 percent retracement of the trendline breakout that followed our last idea on October 31 .
Third, the 8-day exponential moving average (EMA) has remained above the 21-day EMA. That may suggest the short-term trend is pointing higher.
Finally, stochastics are rebounding from an oversold condition.
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Be patient with NFLXThis is why I'm taking a cautious and patient approach with NFLX on my watch list.
On a bigger picture we are technically still in a downtrend from the ATH drop of NOV 21'. And this last year rally is potentially just a huge bear flag.
There are notable gaps to be filled in both directions from here.
$460-$465
$481-$509
$392-$354
$481 plays a huge key level as it previously acted as a strong support and recently resistance. A break and hold above this level can see a push to the gap fill. This slight pull back out of an overbought scenario on the RSI can be just the launch pad we need to see this gap fill.
At the same time, price has space to move in either direction.
Thoughts?
Trade responsibly, pure speculation.
NFLX to Maintain Short-Term Range Bound Between 420 /480Analysis 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.
NFLX overbought, will rebound before breaking ATHNetflix loosing momentum and is likely to rebound to fibonacci levels before breaking the ATH. A rebound on the quickest Moving Average 38D will most likely trigger a breakthrough, while a rebound on the second quickest Moving Average 100D will recouchér back down up until recent down levels - Netflix would enter a sideway zone.
A rebound is prone to happen due a long-time overbought indication on the RSI.
NETFLIX Expect this rally to be extended.Almost a month ago (October 31) we gave a strong buy signal (chart below) on Netflix (NFLX) with the price reacting immediately having entered a non-stop rise:
Due to the sheer aggression of the current bullish leg of the Megaphone as compared to its previous ones though, we have to downgrade our medium-term target to $580, which will make a perfect +69.30% rise from the bottom as the July 18 High. Their RSI patterns are quite similar, though obvious that the current is more aggressive, hence will correct equally aggressively at some point, probably early-mid January 2024.
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NFLX Nov 22, Gameplan Short! Expected Opening: Netflix (NFLX) is anticipated to open at $474.39.
Projected Range: Throughout the day, based on recent volatility, it might fluctuate between $465.09 and $484.81, suggesting a potential swing of +/- $9.86 (+/-2.08%).
Possible Movement: If it hits the extreme points, the estimated range could be around 4.15%.
Support and Resistance: There's no evident resistance above, and support is noted at accumulated volume @ $412.24, around 13.20% below the current price, making the risk-reward ratio seem favorable.
Insider Trading: Insiders at Netflix have been selling more shares than buying recently, which is often seen as a negative signal, with 221.7 thousand shares bought and 321.66 thousand shares sold in the last 100 trades. The last trade, made by Barton Richard N, was a purchase of 280 shares 14 days ago, but in general, there's more selling than buying among insiders.
Netflix overbought at the resitancehi Traders
How are you?
NFLX has had a strong rally and it's approaching the resistance.
The pullback wouldn't be anything an extraordinary.
This is a speculative setup based solely on the technical analysis , especially RSI at super overbought teritory.
Entry , target and stop loss is show on the chart.
Do you agree? feel free to share your opinion in the comment section