Netflix (NFLX: NASDAQ)

Netflix (NFLX), a global video streaming service, reported a notable addition of nearly 8.8 million net new customers in the third quarter of 2023. This surge represents the highest number of new subscribers in a three-month period since the second quarter of 2020, a period marked by widespread lockdowns due to the pandemic. The influx of new subscribers is considered a leading indicator of future profitability.

While the U.S. and Canada may be approaching saturation in terms of market penetration, Netflix’s potential for long-term business growth is fueled by less developed countries worldwide. A significant portion, almost 70%, of Netflix’s membership base is outside the U.S. and Canada, emphasizing the company’s substantial international presence.

As of the current analysis, Netflix is viewed bullishly with a suggested entry above the $420.00-$425.00 range and an upside target in the $610.00-$615.00 range.

Axsome Therapeutics (AXSM: NASDAQ)

Axsome Therapeutics (AXSM), a biopharmaceutical company focusing on nervous system treatments, has experienced a significant increase in revenue, driven by its two commercialized products, Auvelity and Sunosi. Auvelity’s sales might see further growth when it becomes accessible in international markets, and Sunosi has already generated $0.6 million in international sales, contributing to revenue through licensing and royalties.

The majority of Axsome’s drugs in the pipeline are in Phase 2 or later trials, indicating their potential efficacy. The company is nearing the submission of an application for AXS-14, intended for the treatment of fibromyalgia. If all goes well, this medicine could gain approval within a year, serving as a potentially bullish catalyst for Axsome’s stock.

As of the current analysis, Axsome Therapeutics is viewed bullishly with a suggested entry above the $73.00-$74.00 range and an upside target in the $123.00-$125.00 range.

Bitcoin (BTCUSD)

Bitcoin has encountered challenges in recent weeks, characterized by a declining RSI and significant downward momentum indicated by the Stochastic RSI on the weekly timeframe. The pivotal question revolves not only around the ability to maintain the $40,200 level but also the possibility of testing support around $32,000 to establish a foundation for the next upward phase.

Further complicating the picture, the price has dipped below the 50-day moving average (MA) on the daily chart, hinting at the potential initiation of a retracement. This development underscores the need for cautious monitoring of key support levels and broader market dynamics to ascertain the future trajectory of Bitcoin’s price movement.

THORChain (RUNEUSDT)

RUNE has recently reached the lower boundary of the $4.00 – $4.50 support range, currently trading at $4.00. This level could potentially serve as a point for a rebound, prompting consideration for a spot long trade.

The approach involves a gradual entry at the current level, with a set stop loss at $3.80 and a take profit target at the subsequent resistance area ranging from $5.00 to $5.40. This range aligns with the daily descending resistance line originating from early December. Vigilance is essential for potential signs of rejection in this area.

Should the price successfully breach the resistance line on higher timeframes, there might be a strategy adjustment, possibly holding onto the position and only considering a sell-off if it reaches the subsequent resistance zone at $6.00 – $6.50. Monitoring price movements and key technical levels will be crucial for effective decision-making.