Netflix May Be Offering a Trading Opportunity With Its Cross Above Its 20 Moving Average

The Hourly View for Netflix

  • At the time of this writing, NFLX’s price is up $1.07 (0.2%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • 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 doji candlestick pattern on Netflix. 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, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Netflix’s hourly price chart is shown below.

NFLX

The Daily View for Netflix

  • At the moment, NFLX’s price is down $-1.41 (-0.27%) from the day prior.
  • The daily chart shows that Netflix has seen 3 straight down days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them so that price is now turning below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Netflix.

NFLX

Featured Netflix Commentary From Twitter

$NFLX – Earnings Trade Idea 💡 – July 23 565C

Closed at 530.31

If NFLX can close above 563 after earnings it can test 593 the next few weeks

ER: Tuesday after hours (35 pt move priced in)

$AAPL $AMD $AMZN $BA $BYND $FB $MSFT $NIO $NVDA $ROKU $SNAP $SPX $SPY $SQ $TSLA $ZM https://t.co/vD2fqLjchf

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