Netflix (NFLX) Closes Prior Hour Up 0.17%; Moves Down For the 6th Consecutive Day, Price Base in Formation Over Past 14 Days

The Hourly View for NFLX

Last Updated September 11, 2020, 15:11 GMT

Currently, NFLX’s price is up $7.04 (1.46%) from the hour prior. The hourly chart shows that NFLX has seen 2 straight up hours. 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 pin bar candlestick pattern on NFLX. Given that we see downtrend on the 20 and 10 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 3.9% ($19.52) from the open of the previous day, marking the 6th consecutive day a decrease has occurred. The price move occurred on volume that was down 6.93% from the day prior, but up 27.86% from the same day the week before. Below is a daily price chart of Netflix Inc.


Netflix Inc Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 16 out of the past 30 days.

Overheard Around the Web

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

    $OPK If they could find a CEO to treat opko like a REAL company instead of the vanity project of a billionaire, I don't see why the stock price couldn't be the same or better than $DGX or $LH

    In the words of Reed Hastings, CEO of $NFLX (read about their brutal "best or next" workplace culture):
    “I tell my bosses, the board of directors, that I should be treated no differently. They shouldn’t have to wait for me to fail to replace me.”