NETFLIX -JUST A MATTER OF TIME TILL IT WILL SHOOT BACK UP !!

Netflix on a 4H chart -this is the support level since bounced back from crash of Covid.
A very strong stock, signed several exclusive shows for the upcoming winter and has been bit down cause of a less then expected earning report on Q4.
With 3 new competitors in the stream on demand market rising Netflix has been beaten around lately and dropped from 525, but this company despite poor management times is a very strong company and this stock is a bullish stock by all Parameters on the “street”.
in this idea i present the very strong support level of 470 (55$ drop from its avg high ) and netflix is just 10$ above it at the moment.
With a gap of over 4$ to fill and a FIB retracement of 50% i predict a rally from current number all the way to 515$ price targe by the end of Xmas .
we do all our analysis on Technical and Fundamental combined on something we call MCBa - market cycle based analysis .


Good luck and trade safe!!!

Trade closed: target reached:

510 was reached and since took a massive dive below 470. meaning we can take it again :)