After the big earnings gap-up on July 18, Netflix began forming a classic "cup" pattern that lasted from July 27 through September 21, as profit-taking kept a lid on the stock. The depth of the "cup" was ~25 points. The "handle" began forming on September 22 and October 2 provided another data-point, to connect the trendline and form the handle.
On October 4, Netflix broke out on volume and traded heavily to a earnings-peak of 202.83 (~21 points) and has traded in a 9-point channel, since (27 days).
On October 4, Netflix broke out on volume and traded heavily to a earnings-peak of 202.83 (~21 points) and has traded in a 9-point channel, since (27 days).