Netflix is Still Not Going to Stop at 300

• Posted by Greg Harmon
• on August 14th, 2013

30 days ago I wrote about Netflix, $NFLX, and its prospects for moving through the previous high at 304 and as high as $554 per share in Netflix Will Not Stop at 300. I got some ‘feedback’ on that post. Yet here we are, another month in the books, and the prospects look even better. The chart below shows the starting to move higher again, with support from the rising and bullish Relative Strength Index (RSI) and the Moving Average Convergence Divergence indicator (MACD) that is about to cross to positive. Following the previous moves, each of the last 3 (including the gap up) have been $45

moves. This gives a target on a Measured Move to 285, within spitting distance of the previous high at 304 and change. And what about that poorly hand drawn Cup and Handle from the prior post? It is updated below and continues to give the interim targets of 345, 443 and 554. Short interest remains at just under 12% as well. There is still time to get into this stock and the next entry is on a break over 270, the most recent high.

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