Netflix (NFLX) Closes Prior Hour Down -1.3%; in a Downtrend Over Past 14 Days

The Hourly View for NFLX

Last Updated September 16, 2020, 23:16 GMT

At the moment, NFLX’s price is down $-0.17 (-0.03%) from the hour prior. The hourly chart shows that NFLX has seen 3 straight down hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Netflix Inc Daily Price Recap

The back and forth price flow continues for Netflix Inc, which started today off at 483.86 US dollars, down 2.45% ($12.13) from yesterday. This move happened on lower volume, as yesterday’s volume was down 18.15% from the day before — and down 47.58% from the same day the week before. Here is a daily price chart of Netflix Inc.


Netflix Inc Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For another vantage point, consider that Netflix Inc’s price has gone down 10 of the previous 14 trading days. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 14 and 90 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.

Overheard Around the Web

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

    $NFLX For those idiots saying that 8 times more people have cancelled or whatever nonsense, no, the "data"(no actual numbers were given) was for the daily average on one specific day, Sept 12th. It's total nonsense to say 8 times as many have cancelled as opposed to August…as a whole month. It varies day to day…but overall many MORE people are subscribing around the World.

    YipitData declined to provide estimates on the number of customers who cancelled. Customers regularly drop Netflix and other subscription services (a metric referred to as “churn rate”), and the YipitData numbers may ultimately reflect a short-term blip in U.S. cancellations that is relatively minor in a grand scheme of things. As of the end of June, the company tallied 193 million paid streaming customers worldwide. That’s after Netflix netted about 25.9 million new subscribers worldwide in the first six months of 2020, with the coronavirus pandemic spurring record signups.