Netflix has completed a bullish chart formation that we identified last week
The bullish " flag ," which we reported as a potential pattern on Jan. 17 , can be declared complete because NFLX came within $0.64 of the formation's price target. Shares hit a high of $118.78 this morning after reporting earnings last night and are now trading at $117.33, up 23.45 percent on the session.
Traders who were in the stock based on the pattern may want to think about their next steps. When patterns complete, there is always a risk of retracement as technical traders exit their positions at the same time.
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