Netflix Daily Chart Analysis
Overview: NFLX appears to be in a recovery phase after a mid-year decline, with signs of a potential cup and handle formation that might indicate a bullish breakout if resistance around 780 is breached.
Support and Resistance Levels:
Support: The stock found support around 600 and 700 .
Resistance: A notable resistance level appears to be around 780, where the price struggles to break through in November.
Volume Analysis:
Recent trading sessions have seen lower volume, suggesting consolidation as the price stabilizes above 750. If the volume increases upon a breakout above 780, it would confirm bullish momentum.
Cup & Handle Pattern (Bullish):
Formed from july to mid october. Watch for volume confirmation.
Key Indicators: Monitor the 50-day and 200-day moving averages, RSI for overbought conditions, and volume for breakout confirmation.
Disclaimer: This analysis is provided solely for educational purposes and does not include any recommendations. For any financial decisions, it’s advised to consult with your financial advisor.