Netflix (NFLX) Long Idea
Trading marginally higher today after an upgrade by Jeffries to buy from hold. The Wall Street firm, which also boosted its price target to $385 from $310, said the launch of its advertising-based offering and crackdown on password stealing will drive revenue and EBTIDA above estimates.
Technically, looking for resistance to be broken down at around $330, to open up a nice run back towards $400, but going for $390, as there is decent supply heading into the big psychological figure. Price action has breached a narrowing triangular / pennant pattern, inviting upside pressure.
Technically, looking for resistance to be broken down at around $330, to open up a nice run back towards $400, but going for $390, as there is decent supply heading into the big psychological figure. Price action has breached a narrowing triangular / pennant pattern, inviting upside pressure.
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