Netflix (NFLX) - Get Report has always been a volatile stock. It is currently moving upward again, as seen Wednesday when shares closed at $100.20.

Investors are betting the company's exclusive deal with Disney (DIS) - Get Report , which kicks in this fall, will pay huge dividends with subscribers.

Right now the stock has already paid handsomely. NFLX has delivered some 14% gains just in the past five days. In the process, the shares have now reclaimed all three key moving averages (20-day, 50-day and 100-day).

But don't take profits now. This chart, courtesy of TradingView, points the way for the stock to hit $111 per share.

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Thanks to steady stream of bullish notes from various analysts, NFLX is no longer broken. Fears about weak subscriber growth, which punished the stock in April, have been forgotten. From a technical perspective, NFLX regained its strength, is trading above all three moving averages and demolishing all resistance levels in its way.

The next resistance level to fall is the at $102.68 (solid red line). This is likely to happen in the nest two sessions, if not sooner. This is because NFLX stock still has a 13% gap to fill to around $108 per share, which means NFLX stock will consolidate higher, bringing its moving averages higher too.

The chart shows that Netflix' moving averages will eventually become support on its way to $111 per share, or 10.7% higher (solid blue line). That's the real major resistance level, which NFLX stock has not seen since April 15, a day prior to the release of its first-quarter earnings.

Netflix will announce second-quarter results in the second week of July. With Disney blockbuster hits set to release on Netflix's platform, the stock should regain $111 per share before then as the market bets Netflix will beat its lowball subscriber guidance.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.