FREE Guide: 6 Fibonacci Types that Create the Most Precise Price Levels, Targets, and Reversal Zones

April 12 Chart of the Day - Netflix

Precision oriented price action technical analysis by far provides the best edges and most setups for traders across the markets so that's what we use for the basis of our reviews.

The last time we featured Netflix (NFLX) in May of 2023 as our chart of the day price was trading in the $370 area.  Today Netflix closed at $622.83.

Don't you wish you followed us back then?

We'll review the Netflix chart again from a price action technical analysis perspective to potentially identify upside targets.

Monthly Chart 

Netflix monthly price action technical analysis review

On the monthly chart we noticed that price broke out from a wedge it was contained by last year and has powered up over $600+ which is above any of the Fibonacci bear retracements across all time frames.  Yes, this is very bullish in nature.

With that in mind we set out to use our strategies for anticipating new all time high (ATH) upside targets if price were to make it up there.

Keep in mind, price rarely, if ever, moves in a straight line.  In fact, price cycles up and cycles down across all charts and all time frames.

Technically speaking, $1000+ is in play...

Weekly Chart

Netflix weekly price action technical analysis review

On the weekly chart we can see with much more clarity pricing making a series of higher highs and higher lows.

We've layered in Fibonacci, trend, and support/resistance to identify potential levels of interest in both directions.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans.

So what's next? 

We don't make predictions...

Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.

  1. Support/Resistance
  2. Trend
  3. Fibonacci 
  4. Supply/Demand Zones,
  5. Change Control Zones

ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.

Take a look at the charts and let us know what you think.  

We'd like to hear from you in the comments sections. 

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