NETFLIX’s Next Big Move: Massive Breakout Imminent?

23 oct.

Technical Analysis:
NFLX (Netflix), on the 15-minute time frame, has set up a long trade with a strong entry at $744.60, supported by good volume. The breakout occurred above a consolidation phase, indicating market interest in a bullish move.

The price action is holding above the entry level, and the Risological Dotted Trendline is trending upward, providing a strong support foundation for the trade. This long setup points to a potential bullish continuation as Netflix approaches the following targets.

Key Levels:

• Entry: $744.60
  
• Stop Loss (SL): $715.10
  
• Target 1 (TP1): $781.07
  
• Target 2 (TP2): $840.08
  
• Target 3 (TP3): $899.09
  
• Target 4 (TP4): $935.56
  

Observations:
The breakout was backed by strong volume, reflecting confidence from the bulls.
Price is consolidating near TP1, suggesting momentum is building for further upside.
The Risological Dotted Trendline is trending upwards, giving strong support around $744, ensuring the trend stays intact.

Outlook:
Netflix's long trade setup shows strong potential for upward movement. With the support of the Risological Dotted Trendline and high volume backing, this trade is well-positioned to meet its targets. Watch for any pullback near $740, which could present another opportunity to re-enter or add to positions.