NFLX Massive Weekly Rising Wedge Breakdown Triggers $31 TargetNetflix, Inc.BATS:NFLXTaxpayerTradesMacro Rising Wedge Breakdown: On the weekly timeframe, Netflix, Inc. (NFLX) has decisively broken below the lower ascending support line of a massive, multi-year rising wedge pattern that has guided price action since 2022. Shattered Key Support: The critical pivot zone around $110–$120 completely failed to hold on this descent, removing a major defensive level for bulls. Momentum Capitulation: The Machine Learning RSI indicator at the bottom of the chart is plunging deep into lower territory (currently sitting around 25.80), confirming intense, accelerating selling pressure with zero signs of structural stabilization yet. Why It Matters High-Timeframe Shift: Rising wedges are inherently bearish reversal structures. When a breakdown occurs on a high timeframe like the 1W, it signals a long-term macro trend shift rather than a minor short-term correction. Severe Macro Markdown: The stock's performance metrics confirm a relentless downward trend, shedding -28.45% over the last 3 months and -44.97% over the last year. This breakdown is a high-volume continuation of that macro markdown phase. What I Expect Next The Path to $31.00: With major structural support floors vaporized, the technical projection points directly toward $31.00 as the ultimate target for this wedge breakdown. Strategic Stance: The bias remains firmly to the downside. Any temporary relief rallies or dead-cat bounces should be treated as potential retest-and-reject plays of broken key levels rather than a sustainable bottom. Disclaimer: This analysis is for educational and informational purposes only and should not be considered financial advice.