NFLX is about to complete an inverse head and shoulders pattern, a very powerful pattern indicator to upside potential. Typically there is a breakout to the full length of range of the right shoulder, which is $341-$381 (a $40 range), indicating a possible break to the upside of $40 to $420, which places it right back into resistance of its all time high. Another measurement could be used by taking 1/3 of the head range, which is $234-$380 ($146 range, 1/3 of 146 = $48) placing NFLX to possible rally up to $428 again reaching resistance around its all time high. For a potential shorter move, I would take profits at $400 when it comes into its first layer of resistance. This has a potential move of 5-10%.
Trade closed: stop reached