Netflix Came Into Today Up 1.06%

The Hourly View for Netflix

  • At the time of this writing, NFLX’s price is down $-1.28 (-0.2%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Netflix. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration.
  • Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Netflix’s hourly price chart is shown below.

NFLX

The Daily View for Netflix

  • Currently, NFLX’s price is up $6.87 (1.06%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between NFLX’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NFLX’s price.

Below is a daily price chart of Netflix.

NFLX

Featured Netflix Idea From TradingView

Below is a trading comment entitled NETFLIX – Long Position you may find interesting:

Pure technical analysis shows that the trend continues to be an uptrend and the downwards corrections has come to an end.

NewFXbroker