Netflix Does it Again: Heads Up for the 2nd Straight Day

The Hourly View for Netflix

  • At the moment, NFLX’s price is up $1.35 (0.21%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 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.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Netflix’s hourly price chart is shown below.

NFLX

The Daily View for Netflix

  • At the time of this writing, NFLX’s price is up $4.54 (0.7%) from the day prior.
  • This is the 2nd day in a row Netflix has seen its price head up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 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 – Where to next? 🎬 you may find interesting:

The big question is not just where Netflix ends up going next but where is the market as such going. Will there be a good correction inbound or is the market just taking a small pause now to rise higher very soon?The answers will unfold in front of us in the next coming weeks but let’s take a look at NETFLIX nad share some news with you:- Netflix is making a big push into video games The company first dabbled in games with interactive titles like Black Mirror: Bandersnatch and a Carmen Sandiego game, but in 2021, it made gaming a much bigger priority. Netflix hired a former EA exec in July to lead its gaming efforts and, in November, let …

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