Netflix (NFLX) Closes Last Hour Up $6.60; 3 Day Down Streak Broken, Breaks Above 100 Day Average, Price Base in Formation Over Past 30 Days

The Hourly View for NFLX

Last Updated September 22, 2020, 00:08 GMT

At the moment, NFLX’s price is up $5 (1.06%) from the hour prior. NFLX has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on NFLX; it is now pointing up. 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

Netflix Inc is up 3.7% ($17.39) since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. This move happened on lower volume, as yesterday’s volume was down 20.28% from the day before — and down 14.65% from the same day the week before. Let’s take a look at the daily price chart of Netflix Inc.

NFLX

Netflix Inc Technical Analysis

Notably, Netflix Inc crossed above its 100 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Netflix Inc’s price has gone down 18 of the previous 30 trading days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about NFLX:

    ✅ ROBINHOODERS EFFECT
    “Relationship between Robinhooders Actions and Stock Prices Change”

    TODAY 10 ⬆️ BEST PERFORMANCE of the MOST POPULAR Stock held by ROBINHOODERS:

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    6 $PYPL +4.06%

    7 $AMD +4.02%

    8 $NFLX +3.70%

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    Robinhooders