Rich Ross Believes Netflix Is Going To $180

Rich Ross of Evercore ISI spoke on CNBC's Trading Nation about Netflix, Inc. NFLX. He identified a bullish technical pattern on its daily chart and he believes the stock is going to trade to $180.

See Also: Where You Should Expect To See Effects Of Netflix's Breakthrough In China

Ross said the stock rallied $32 from its November lows and it traded sideways in the last two months, forming a technical pattern called a bullish flag.

Netflix broke above $148 on Tuesday, on the news that the company has reached a deal to enter Chinese market. Ross sees that as a bullish sign and he thinks that the stock is going to make another $32 move above the break out point of $148, to reach his target price of $180.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: CNBCOptionsMarketsMediaTrading IdeasRich RossTrading Nation
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!