$NFLX sees Go Trend Continuation above resistance

$NFLX sees Go Trend Continuation above resistance


October 2022


Alex Cole

$NFLX investors have been waiting for a move like this.

After what has looked like a long basing pattern for some time, price has finally broken higher than the resistance that we saw from the lower bound of a massive gap down in April. GoNoGo Trend has been painting mostly blue "Go" bars since July as price has battled against resistance. Most recently, GoNoGo Trend is painting strong blue bars and GoNoGo Oscillator moved into positive territory on heavy volume and has quickly retested the zero level before racing higher. Polarity suggests a natural level of support now at $250 and traditional analysis tells us that a gap will likely get filled. That puts a target at $330.