Netflix, Inc. ($NFLX) has been a great mover over the last few months – and looks poised for another big move soon. Here’s why..
Inside Day Relationship
The daily chart shows $NFLX has formed an Inside Bar relationship, which usually occurs prior to a breakout opportunity. Moreover, this relationship has formed right at the monthly R2 resistance level, which means a breakout could lead price back to R1 at $144.85 or R3 at $186.80.
Looking more closely at the chart, you’ll notice that $NFLX has also formed a clear four-day trading range from $158.40 to $167.15. A breakout from this range will likely spark the next 3 to 5 day run in this stock, so watch it closely for directional confirmation.
Let’s see what happens!
Cheers!
Frank Ochoa
PivotBoss.com
Follow Frank on Twitter: http://twitter.com/PivotBoss
