NFLX Heating Up! Is This the Next Big Move?🔥Technical Analysis (TA)
* Trend: NFLX has been in a strong uptrend, breaking past resistance zones and forming higher highs.
* Price Action: The price is currently testing an ascending trendline, moving within an expanding wedge, signaling increasing volatility.
* Support Levels:
* 1st Support: $1,033
* 2nd Support: $998
* Resistance Levels:
* 1st Resistance: $1,045
* 2nd Resistance: $1,050
* Indicators:
* MACD: Bullish crossover, showing momentum, but needs confirmation.
* Stochastic RSI: Overbought zone (~72), indicating possible consolidation or retracement.
GEX Options & Market Sentiment
* Gamma Exposure (GEX): High positive call resistance at $1,045 and $1,050, suggesting these could act as key levels where price action may slow.
* Put Support: Heavy options positioning at $997.5, indicating a strong support zone.
* Options Flow:
* Calls Dominant at 23.3%, suggesting bullish sentiment but not extreme.
* IV Rank: 12.1, meaning options are relatively cheap for long strategies.
🔥 Trade Setups to Watch
📈 Bullish Scenario:
* Breakout above $1,045 → Target $1,050+
* Entry: $1,040+
* Stop-loss: $1,030
📉 Bearish Scenario:
* Rejection at $1,045 → Drop to $1,000 support
* Entry: Below $1,030
* Stop-loss: $1,050
Final Thoughts
NFLX is showing strong bullish momentum, but it is near a key resistance area. If it breaks out, we could see a test of $1,050-$1,060. However, a rejection might send it back to $1,000 levels before another attempt higher.
📊 Key Takeaway: If bulls maintain control above $1,040, watch for a continuation toward $1,050+. But if rejection occurs, expect a pullback toward $1,000.
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📢 This analysis is for educational purposes only. Trade wisely!
