Netflix is on a tear.
Shares have skyrocketed more than 55 percent from their 52-week low, hit just seven weeks ago on Dec. 26.
The stock was up 4 percent on Tuesday, to around $360, following a bullish call from William Blair analyst Ralph Schackart, who told clients that shares can rally another 22 percent by year-end.
He's not the only one bullish on Netflix. From a technical perspective Miller Tabak's Matt Maley says the stock is in an uptrend, while Strategic Wealth Partners' Mark Tepper believes international growth opportunities as well as a loyal customer base will push the stock higher in the long term.
"Overall it looks quite good," Maley said Tuesday on CNBC's "Trading Nation." "If you look at its weekly and intermediate chart when it sold off, it bounced off its 100-week moving average. That line provided great support for the stock for four or five times in the last six years, so that's very positive."
The next key level he's watching for the stock is $380, which is where the stock was trading in October before the steep fourth-quarter sell-off.
Maley also points out that Netflix has recovered far and away more than its fellow FAANG names since the December lows. By comparison Facebook is the second-best performer over the past seven weeks, up 34 percent compared with Netflix's 54 percent gain. Given this, Maley says that "there's no question in my mind that it looks by far the best of all the FAANGs on the charts."
The other stocks in the group are Apple, Amazon and Google parent Alphabet.
Maley believes Netflix could face a slight pullback in the short-term given its meteoric rise, but any dip wouldn't be a "big deal."
From a fundamental perspective, Strategic Wealth Partners' Mark Tepper also thinks the stock is poised to move higher given international expansion opportunities and a very loyal base.
"International growth is still hot, and this global secular shift towards on-demand entertainment is alive and well," he said.
With many investors saying this bull market may be on its last legs, Tepper says Netflix is also a relatively safe bet since even if economic conditions are tight, it is "very unlikely" consumers will "cut their $10 Netflix subscription."
Tepper also doesn't see a slowdown in subscriber growth — often cited by Netflix bears — as a huge issue since he believes it will be offset by the service's planned price hikes.
Disclosure: Mark Tepper owns shares of Netflix.
