$NFLX Netflix Stock Chart
One of our top technical trading ideas this week is Netflix NASDAQ: NFLX, which closed yesterday at $434.05.
Let’s explore why I am bullish Netflix stock here.
Netflix (NFLX) is in a primary uptrend above the rising 50, 100 and 200 -day moving averages, a strong trend following signal.
Netflix stock recently completed a 13 percent pullback after making a new all-time high at 458.97 in mid-May.
Key price support levels in the near term are $400 for shorter term traders and over $385 for position traders and longer-term investors.
Based on the current trend, we are expecting a breakout to new highs over the next few weeks.
Larry is the publisher of the Blue Chip Daily Trend Report.
Twitter: @LMT978
The author has a long position in ticker NFLX at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
