Netflix $NFLX was in a correction in 2018 that started in June from a height around $423 down to a low just above $230 in late December. But since then, price has recovered. NFLX Daily Chart (click to enlarge) Consolidation Resistance:- The daily chart shows how price rebounded sharply in early 2019. - But since price pushed above the 200-day simple moving average (SMA), NFLX slowed down its rally.- Eventually, price started to consolidate sideways with support at $340 and resistance around $380-$387- We can see that price held above the consolidation support, which was also right around the 200-day SMA. This is a bullish sign.- Also, the RSI held mostly above 40 after it pushed above 70 earlier in the year. This is also a sign that bulls are now in control.- Thus, unless the overall market starts slide sharply, I think there is a strong likelihood that NFLX will break above the $387 resistance and open up the $420-$423 resistance.- A break below $360 on the other hand would signal further consolidation. But I would still anticipate support around $340. - At the moment, I have entry orders at $365 and $325.