The Hourly View for NFLX
Last Updated September 10, 2020, 15:12 GMT
At the moment, NFLX’s price is up $3.5 (0.7%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NFLX. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 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 1.35% ($6.83) from the open of the previous day, marking the 5th day in a row it has gone down. As for how volume fared, yesterday’s volume was up 20.92% from the previous day (Tuesday), and up 51.37% from Wednesday of the week before. Let’s take a look at the daily price chart of Netflix Inc.
Netflix Inc Technical Analysis
First things first: Netflix Inc crossed below its 20 and 50 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 9 out of the past 14 days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 90 and 30 day charts, may be slowing down and ready to reverse.
Overheard Around the Web
Over on StockTwits, here’s an example of what they’re saying about NFLX:
$NFLX 4 44
Economy recovering – no impact of jobless claim.same old news. every week jobs are increasing
All Tech stocks will rule and turn green from today GREEN GREEN and GREEN. There is no medicine until next year. and It takes 2021 complete year if medicine comes also. EAll tech stocks double and tripple. Just dont trust any rumors and do panic sell. keep loading as they are more low now and great big money. CRM has great market, great customers, great potential to grow and its earnings are very very high. it goes like adoble $500 in a month or two.
CRM – No alternate to CRM salesforce and its customer base.$300 to $500 soon
DOCU – No alternate to DOCU and its institutional customers. $300 to $350 soon
TSLA – No alternate to Elon and 200 Years ahead of future business thinking.$750 by Thanks giving time.
AAPL – No alternate Mobile stock and its enormous cash reserves – Stable stock.$225 by Thanks giving sale.