Can Netflix Return to Old Highs?

BATS:NFLX   Netflix, Inc.
Unlike many big Nasdaq-100 companies, Netflix is below its 2021 high. Could that change for the streaming giant?

The first pattern on today’s chart is the pair of bullish price gaps after the two most recent quarterly reports. The upward moves may reflect confidence that the company’s fundamentals are improving again.

Second, NFLX made a higher high last week and a lower low (relative to the preceding week). This week is just the opposite, with small moves inside the previous range. That pair of bullish outside and inside weeks may reflect positive sentiment.

Third, you have a falling trendline in late January and early February. The stock has broken that resistance and bounced above it.

Finally, the 8-day exponential moving average (EMA) has remained above the 21-day EMA. That may reflect a short-term uptrend.

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