Netflix (NFLX) shares jumped in extended trading Thursday after the streaming giant posted first-quarter earnings that topped Wall Street expectations, boosted by higher subscription prices and ad revenues.

Through Thursday’s close, Netflix shares have gained 9% since the start of the year and trade nearly 60% higher over the past 12 months as the company continues to grow its advertising sales and live events content.

Analysts have also touted Netflix’s ability to withstand an economic downturn amid uncertainty related to tariffs, with JPMorgan describing it as the “most resilient” company it tracks. Netflix has also attracted attention for its attempt to double its revenue and achieve a market capitalization of $1 trillion by 2030, which the Wall Street Journal reported earlier this week.

Below, we take a closer look at Netflix’s weekly chart and apply technical analysis to point out key price levels worth watching.

Momentum Leading into Earnings

After setting their record high in February, Netflix shares retraced as much as 23% before bulls stepped in to support the stock last week near the 50-week moving average.

It’s worth noting that the rebound coincided with the relative strength index (RSI) moving higher from the 50 threshold, a reading that has marked the bottom of several prior pullbacks in the stock since early 2023.

More recently, the shares continued to gain momentum leading into the streamer’s quarterly results, with the price set to open around the psychological $1,000 level on Monday morning. (U.S. markets are closed Friday in commemoration of Good Friday.)

Let’s identify two key overhead areas on Netflix’s chart that investors may be watching and also point out important support levels to monitor during retracements.

Key Overhead Areas Worth Watching

Netflix shares rose 3.5% to around $1,007 in after-hours trading Thursday.

The first overhead area to keep tabs on sits at $1,065. Investors who bought shares during the pullback could decide to place sell orders near the stock’s all-time high (ATH).

We can project an upside target to watch above the ATH by using bars pattern analysis, a technique that analyzes prior trends to forecast future directional movements.

When applying the tool to Netflix’s chart, we take the price bars comprising the stock’s trend higher from August to December last year and overlay them from this month’s low. The analysis forecasts a target of around $1,300, about 34% above Thursday’s closing price.

The earlier trend played out over 17 weeks before the stock consolidated, indicating a similar trending move may last until early August if price action rhymes.

Important Support Levels to Monitor

During retracements, investors should keep track of the $821 level. A retest of this area could see investors seek entry points near last week’s low, which also closely aligns with the end of a five-week losing streak in early January.

Finally, selling below this level sets the stage for a possible fall to around $697. Netflix shares could encounter support in this region near last year’s prominent July swing high and a period of sideways drift on the chart between mid-August and late September.

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As of the date this article was written, the author does not own any of the above securities.