BH42

NETFLIX BREAKOUT ABOVE RESISTANCE TO NEW ALL TIME HIGH - NFLX

Long
NASDAQ:NFLX   Netflix, Inc
Further to my post earlier this week, Netflix has now pushed above it's previous resistance to a new all time high.

Netflix broke above resistance yesterday on good volume and closed the session at $454.19 confirming the breakout. We will be looking for a small back test early next week and providing the new support levels hold, higher highs over the coming weeks.

We already took a large position in Netflix early this week and will be looking for around 15-20% profit in the short term before exiting. Price target sits around $500-$520.

We hope that the new support holds so that this great stay at home stock can put in a strong rally to our price target in the coming weeks !