Long

NETFLIX This price jump will be huge and can reach $490.

Netflix (NFLX) has gone a long way since we called the exact bottom back on our April analysis:

NETFLIX When bubbles pop. The bottom isn't in yet.

Since then, the stock has formed a well structured Bullish Megaphone pattern, which is currently rising after almost touching its bottom. The 1D MA50 is the short-term Resistance and the 1W MA100 (red trend-line) the long-term. A break above it can see NFLX's biggest swing since the recovery that has the capacity to extend as high as the 0.618 Fibonacci retracement level and make a Megaphone Higher High at $490.00.

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