{"id":5503,"date":"2024-08-30T09:47:13","date_gmt":"2024-08-30T09:47:13","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&p=5503"},"modified":"2025-05-14T09:18:24","modified_gmt":"2025-05-14T09:18:24","slug":"netflix-aug-2024","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/chart-of-the-day\/netflix-aug-2024\/","title":{"rendered":"Netflix to Press \u2018Play\u2019 on 4H Bull Flag to See New All-Time Highs"},"content":{"rendered":"\n
\"\"
Source: Netflix Newsroom<\/figcaption><\/figure>\n\n\n\n

Netflix (NFLX) is seeing a 4H bull flag consolidation right at its ATH (all-time highs).<\/p>\n\n\n\n

This comes right after Nvidia\u2019s recent drop, which as we\u2019ve covered is not bearish \u2013 but rather setting up for another leg up<\/a>.<\/p>\n\n\n\n

So, with Nvidia acting as another point of bullishness, we do have a case for a breakout on Netflix. Let\u2019s break this down on the 4-hour timeframe on NFLX\u2019s chart.<\/p>\n\n\n\n

NFLX: Bull Flag on 4H and Double Bottom on Stochastic RSI<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n

Even though Netflix has created several bearish reactions at this ATH resistance level, there are a few factors which support a bullish breakout to happen eventually.<\/p>\n\n\n\n

The first, obviously, is the creation of a bull flag<\/a> on the 4H timeframe. Secondly, this comes aligned with a 4-hour double bottom consolidation as well, which is usually a good sign for a stock price to rise. <\/p>\n\n\n\n

Depending on if and when the breakout appears, the measured move target would be placed at approximately $820.00 to $830.00 \u2013 roughly marking a 1,227 pips move or 18%.<\/p>\n\n\n\n

Resistance Levels to Watch for a on NFLX<\/span><\/strong>

\u2022 Bull flag upper trendline<\/strong>
\u2022 ATH resistance zone: <\/strong>Approx. from $695.45 \u2013 $710.55<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

In Case of a Deeper Retracement: Watch These Levels<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n

In the event a rejection to the downside does occur on NFLX, pay attention to whether the price falls out of the bull flag or breaks certain key levels below.<\/p>\n\n\n\n

For now, the NFLX 4-hour chart has shown to be respecting its 20 EMA, which it has recently bounced off of. If this EMA breaks, the 50-EMA is quickly rising to align with the lower trendline of the bull flag, which is another bullish indication.<\/p>\n\n\n\n

There are also various Fibonacci Retracement levels to watch as a potential support. The first being the 0.382 retracement at $664.21, which is highlighted in blue and aligns with a minor support level.<\/p>\n\n\n\n

The second and most important Fib level to watch is the 0.618 retracement at $635.24, which aligns with the 4H-200 EMA and a major support zone.<\/p>\n\n\n\n

Support Levels on Watch on NFLX<\/span><\/strong>

\u2022 4H-20 EMA:<\/strong> Yellow Line in the chart
\u2022 4H-50 EMA:<\/strong> Green Line in the chart
\u2022 38.2% Fibonacci Retracement: <\/strong>$664.21 (Aligns with Support Level)
\u2022 61.8% Fibonacci Retracement: <\/strong>$635.24 (Aligns with 4H-200 EMA, Major Support Zone)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Either way, it does seem more likely than not that Netflix is simply waiting to push the \u201cplay\u201d button of the bull flag to eventually break its ATH.<\/p>\n\n\n\n

You may also be interested in:<\/em><\/strong><\/p>\n\n\n\n

NVIDIA\u2019s Growth Story: What\u2019s Next for the AI Giant?<\/a><\/p>\n\n\n\n

Silver Elliott Wave: Shine and Climb<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Netflix could potentially see new all-time highs if a bull flag on the 4-hour timeframe breaks out.<\/p>\n","protected":false},"author":159,"featured_media":5506,"parent":0,"comment_status":"closed","ping_status":"closed","template":"","market_insights_categories":[18],"class_list":["post-5503","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-chart-of-the-day"],"acf":[],"yoast_head":"\nNetflix to Press \u2018Play\u2019 on 4H Bull Flag to See New All-Time Highs - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Netflix (NFLX) is seeing a 4H bull flag consolidation right at its ATH (all-time highs). 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