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The probability of taking over Netflix caused dynamic gain of the price. Netflix (NASDAQ, $NFLX) can be bought by Disney Co. Netflix is internet company offering individual customers access to many movies and TV series. A lot of them is produced by Netflix itself, the most known is House of Cards with Kevin Spacey.
On Monday the price of Netflix shares increased 4% and this movement is continued in pre-session trading on Tuesday. Breaking 104 USD level will mean that stock price will be at highest level since April 2016. More important is that price will go above consolidation between 85.60-103.5 USD. In this area the price stayed in the last half a year.
In longer term Netflix stocks is moving in bullish trend and there is no threat to the bullish trend line. If resistance at 103.5 USD will be broken, the next one will be at 111.85 USD (2016 high) and 115 USD (2015 resistance).
