Netflix Tags Its Supporting Trendline
Tim Knight | Aug 10, 2022 03:17PM ET
The lifetime chart really showed the story here. After Netflix (NASDAQ:NFLX) had collapsed77% in a matter of months, it managed to traverse its lifetime channel range and tag its supporting trendline beautifully. It was one of those once-in-a-blue-moon kinds of moves.
Since then, it is up 50%, and it still looks poised for more strength. I’d say $333 is a pretty hard stop on this one, which would be a 100% gain from its trendline tag.
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