With the main market rebounding, Netflix (NFLX) saw some particularly strong gains, settling higher by 5.1% @ $391. Near term outlook is bullish, and if the main market can claw a little higher into June, then the $400/410 zone looks an easy target.
*with the recent rally, a death cross (50 day breaking under the 200 day) looks to have been avoided, at least until late June/early July.
What should I say on the NFLX?
Well, at least it does make a profit, which is something AMZN would do well to attempt to emulate.
On a purely chart perspective, the very long duration up channel - which broke late March, looks set for a back test of the old channel floor within the near term.
A move into the low $400s in June would match up with an equity market in the sp'1920/30s or so..before a renewed wave lower across the summer/early Autumn.
*as ever, I don't trade the momo/hysteria stocks, but they remain somewhat entertaining to keep an eye on.