NETFLIX and its potential double top

The stock has enjoyed a spectacular bull run during the first half of the year. Netflix accumulated a revaluation of more than 50 percentage points, a spectacular rise that has taken it from trading below 300 dollars zoned to test on several occasions the vicinity of 448-450 dollars zoned. This level is now its main resistance to beat. In order to continue the current upward momentum, the stock must be able to overcome this technical difficulty at weekly closing prices.

Below, the $410 zonal level is the level to watch. Above this level, its last relative low coincides with the bottom of its last bullish breakout. A daily close clearly below would confirm a first sign of weakness that could lead the stock to look for the lower part of its medium-term bullish channel, i.e. the level of 360 dollars zonal. On the other hand, a break above the $450 level would leave the stock in a relative free upward phase, a potential scenario for a new upward impulse in search of the $480-500 zonal level.

Supports: 410, 380, 360, 315, 280 dollars
Resistances: 448-450, 478-480, 510, 550 dollars
Targets: (bullish) 480, 500 (bearish) 400, 360, 320, 290, 255 zonal dollars