TheLuckyS7ven
Long

Netflix Breakout to All-Time High

NASDAQ:NFLX   NETFLIX INC
Sorry I've been away for a bit. Had personal things to take care of, but I have a lot in store for the upcoming weeks. Let's get right back into it!

In this chart we're looking at Netflix on the 1W chart as price has consolidated into a beautiful symmetrical triangle. Price is currently breaking through the descending boundary and is attempting to confirm breakout after a clear 1W candle close above the $373 area.

This symmetrical triangle has a price target of around $527 for about a ~45.5% gain.

This chart pattern breakout is occurring above the 200EMA, so the probability for price continuing to the upside is even higher.

If you would like to see more of these ideas on a regular basis, follow me as I will be posting many more exciting chances to earn on chart pattern breakouts this upcoming year!

Drop a like or comment if you found this idea informational or helpful in any way!

Cheers!

Comments

How did you come up with the 527?
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@toddreg, Take the distance between the highest price and lowest price in the chart pattern (I use candle open/close, not candle wicks) and add that distance to where price is breaking out of the chart pattern.
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