Netflix Closed Yesterday Up 0.18%

The Daily View for Netflix

  • Currently, NFLX’s price is up $4.1 (0.75%) 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 trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 100 day moving average, resulting in them so that price is now turning below it. The moving averages on the daily 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 $0.99 (0.18%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Netflix. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 50 day changed directions on NFLX; it is now pointing down. 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.

Below is a daily price chart of Netflix.

NFLX

Featured Netflix Idea From TradingView

Below is a trading comment entitled NFLX consolidation break-out on earnings you may find interesting:

After 9 months of consolidation and going pretty much no where, NFLX looks primed to pop. With earnings around the corner and whisper numbers indicating EPS of $3.04 beating the expected $2.97 it provides the potential catalyst that could cause a break-out. It has severely underperf…

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