Netflix (NFLX) is Setting Up for Breakout to the Upside
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Looks like Netflix is setting up for a potential break out to the upside. Attached is a 30-day view of Netflix (Nasdaq: NFLX) and you can see that the stock is forming somewhat of a "bear pennant," where a firm top is seen and the flag started from the bottom.
At this point, from a purely technical perspective, Netflix might see action above $83.50 or so.
Another point could be made for activity above the $85 level, which is where Netflix hit a few times over the last half-year ahead of and following earnings reports.
Shares are down 1 percent Wednesday.
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At this point, from a purely technical perspective, Netflix might see action above $83.50 or so.
Another point could be made for activity above the $85 level, which is where Netflix hit a few times over the last half-year ahead of and following earnings reports.
Shares are down 1 percent Wednesday.
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