Netflix Inc (NFLX) Down 0.57%; Pin Bar Pattern Appearing on Chart

The Hourly View for NFLX

Last Updated February 19, 2021, 12:43 GMT

At the time of this writing, NFLX’s price is down $-8.6 (-1.56%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NFLX has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Netflix Inc Daily Price Recap

Netflix Inc came into today down 0.57% ($3.12) from the open of yesterday, marking the 2nd day in a row a decrease has occurred. The change in price came along side change in volume that was up 18.63% from previous day, but down 9.99% from the Thursday of last week. The daily price chart of Netflix Inc below illustrates.

NFLX

Netflix Inc Technical Analysis

Notably, Netflix Inc is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for Netflix Inc has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Netflix Inc’s price has gone down 17 of the previous 30 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to NFLX:

    $NFLX Feb 18
    Stock market forecast – Daily
    ◆ Investment position
    => Buy – Bullish
    ◆ RSS feed. Stock forecast for the next 10 days
    http://feeds.feedburner.com/pretiming
    ◆ Upper~Lower stock price band for the next 10 days
    Price: 534.22 ~ 581.80
    % Change: -2.55% ~ 6.13%
    ◆ Today's Supply-Demand(S&D) strength
    => Supply-Demand(S&D) strength flow appropriate to the current trend.

    ◆ Daily Supply-Demand(S&D) strength Trend
    => About to begin an upward trend as an adjustment trend gradually gives way to increasing limited falls and strong rises.

    Timing_Forecast