NFLX has held that ascending support since September 20, 2021. That's a perfect month. Now since it held that so well and the supply zone forming at the top currently seems to be pinching the price into an ascending triangle (3hr chart), I think the odds are in our favor here from a price POV that NFLX is a great buy rn. RSI also seems to be in the fair zone which is good. However, since we're on the topic of indicators, RSI & MACD are showing a slight bearish divergence which is something to look out for. I don't believe this is a very important factor right now since it's more of a pinch than a clean drop. ALSO!
From a fundamental standpoint,
NFLX has raked in millions because of Squid Games, the show loved by all (except me, I haven't watched it). The show is said to have grown from a value of $2M to $900M in a month. Netflix has been seeing more new subscriptions and increased revenue due to the fact that they increased their subscription rate (because the CEO probably needed a bigger bonus to afford his new private island). OVERALL I am quite bullish on
NFLX and I am personally purchasing shares and calls, as well!Hope you gained some insight and value from my analysis.
Have a great day everyone!
Stefan
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