NETFLIX IS SETTING UP FOR NEW HIGHS
One of our top technical ideas this week is Netflix, NFLX, which closed yesterday at $434.05. Netflix is in a primary uptrend above the rising 50, 100 and 200 -day moving averages, a strong trend following signal and recently completed a 13% pullback, after making a new all-time high at 458.97 in mid-May. Key support levels in the near term are $400 for shorter term traders and over $385 for position traders and longer-term investors.
Disclosure. I am long this stock.
