Netflix Inc. Stock Code NFLX.NAS
Price broke above the cloud on 13 April 2020 and reached a high of $575.37 on 13 July 2020. After reaching this high, a four-day price correction has bought price to a low of $484.14, which was also above the Ichimoku cloud, maintaining the bullish trend. We do not think the price correction has ended. We see a correction lower to $460 in the next few days. Conversion line and Base line have a bullish crossover earlier, and has stayed bullish. Lagging Span is above price of 26 days ago and also above the cloud as well, confirming a strong bullish trend. MACD is bullish with both its lines high above the zero line, confirming the bullish trend. MACD has a bearish crossover and is moving lower but above the zero line, which is a sign of a corrective decline in a bullish trend.
$575.30 Price Target
$443.90 Risk Management Stop
4 weeks Trade Duration