After reporting its fourth quarter numbers there was a rally in the Netflix (NFLX, Financial) stock by 17%, which seems that it touches a new high. Netflix reports better than analyst expected number whose impact is visible in the weekly chart on January 21.
On the weekly chart of Netflix, it is clearly visible that the stock has blast a new high in December 2013 and created a big picture. From here the technical chart shows that the support level is at the level of $300 highlighted in a circle.
On the daily chart of Netflix, I found that in the past few months the stock of NFLX starts consolidating at the lower level between $320-350 and the Wednesday rallied after the fourth quarter result it broke the simple moving average of 50-200 days and also moved the stock in to unfilled down gap of the third week of October 2014.
Traders would see the Netflix stock for short-term trade at $412.30 or higher for a move into $445.80 and any fall below the level of $397 would dismiss the setup and trader have to wait untill it reaches at the level of $412.
Disclosure: I have no relation with this company. I don't get compensation from  Netflix for writing this article. I have no plan to enter any position in this stock for the next 72 hours.
