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danbeaulieu

Nice bounce on well-respected support and the 61.8% retracement

Long
Netflix, Inc. (NASDAQ:NFLX)  
danbeaulieu  
NASDAQ:NFLX   Netflix, Inc.
Trend Analysis Chart Patterns 618 Fibonacci Retracement support riskreward entry Bullish Patterns
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trendanalysis chartpattern 618fibonacciretracement support riskreward entry bullish
snapshot
NFLX
NETFLIX had a great bounce here at well-respected support and the important 61.8% retrace. Having closed above the 200 simple moving average this chart offers a decent risk reward setup.
Having said that, one should be aware of the somewhat debatable head & shoulders pattern on the daily weekly.
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