In our Flight Path note 7/11/22 we noted that for $NFLX there was some bullish evidence to suggest the base was in.
This week, GoNoGo Trend painted some amber “Go Fish” bars as price climbed to test horizontal resistance from the highs of the consolidation pattern as GoNoGo Oscillator broke out of a max GoNoGo Squeeze into positive territory on heavy volume. Wednesday saw GoNoGo Trend paint a “Go” bar as the new trend emerged. With price above resistance, and GoNoGo Oscillator in positive territory we can look for a target of around $249 from the bottom of the massive gap down from April 20th.
