Netflix (NFLX) shares jumped in prolonged buying and selling Thursday after the streaming big posted first-quarter earnings that topped Wall Street expectations, boosted by greater subscription costs and advert revenues.

By way of Thursday’s shut, Netflix shares have gained 9% for the reason that begin of the 12 months and commerce almost 60% greater over the previous 12 months as the corporate continues to develop its promoting gross sales and live events content material.

Analysts have additionally touted Netflix’s capacity to face up to an financial downturn amid uncertainty associated to tariffs, with JPMorgan describing it as the “most resilient” company it tracks. Netflix has additionally attracted attention for its try to double its income and obtain a market capitalization of $1 trillion by 2030, which the Wall Road Journal reported earlier this week.

Beneath, we take a better have a look at Netflix’s weekly chart and apply technical analysis to level out key value ranges price watching.

Momentum Main into Earnings

After setting their record high in February, Netflix shares retraced as a lot as 23% earlier than bulls stepped in to help the inventory final week close to the 50-week shifting common.

It’s price noting that the rebound coincided with the relative strength index (RSI) shifting greater from the 50 threshold, a studying that has marked the underside of a number of prior pullbacks within the inventory since early 2023.

Extra not too long ago, the shares continued to achieve momentum main into the streamer’s quarterly outcomes, with the worth set to open across the psychological $1,000 level on Monday morning. (U.S. markets are closed Friday in commemoration of Good Friday.)

Let’s establish two key overhead areas on Netflix’s chart that buyers could also be watching and in addition level out essential support levels to watch throughout retracements.

Key Overhead Areas Price Watching

Netflix shares rose 3.5% to round $1,007 in after-hours buying and selling Thursday.

The primary overhead space to maintain tabs on sits at $1,065. Buyers who purchased shares through the pullback might determine to put promote orders close to the inventory’s all-time high (ATH).

We will undertaking an upside goal to look at above the ATH through the use of bars sample evaluation, a method that analyzes prior trends to forecast future directional actions.

When making use of the software to Netflix’s chart, we take the worth bars comprising the inventory’s development greater from August to December final 12 months and overlay them from this month’s low. The evaluation forecasts a goal of round $1,300, about 34% above Thursday’s closing value.

The sooner development performed out over 17 weeks earlier than the inventory consolidated, indicating an identical trending transfer might final till early August if price action rhymes.

Necessary Help Ranges to Monitor

Throughout retracements, buyers ought to maintain monitor of the $821 degree. A retest of this space might see buyers search entry points close to final week’s low, which additionally carefully aligns with the top of a five-week shedding streak in early January.

Lastly, promoting beneath this degree units the stage for a attainable fall to round $697. Netflix shares might encounter help on this area close to final 12 months’s distinguished July swing high and a interval of sideways drift on the chart between mid-August and late September.

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As of the date this text was written, the writer doesn’t personal any of the above securities.