Netflix (NFLX) is trading at an important breakout level:
Click chart above to see the detailed analysis👆🏻
Netflix is just another one of these stocks which is perfectly following cycles and market structure. After the recent drop of about -80%, Netflix perfectly tested the bottom of the reverse triangle pattern, created bullish confirmation and took off towards the upside.
Click chart above to see the detailed analysis👆🏻
Netflix is about to break a massive resistance level towards the upside and looking at the previous cycle, it is quite likely that we will see a breakout. If it happens, there is a very high chance that Netflix will immediately rally back to the triangle resistance trendline.
Click chart above to see the detailed analysis👆🏻
Netflix finally managed to create a new all time high and is slowly but surely breaking above the current horizontal resistance level. If such a breakout happens, we can immediately see a rally of +60% because the reverse triangle resistance is still quite far away from price.
Click chart above to see the detailed analysis👆🏻
Boom, Netflix just broke above the previous all time high as expected, perfectly following the recent analysis. It is simply a repetition of the price action during 2013 with the reverse triangle and the resistance breakout. This means we have another +50% to go from here.
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