Netflix, Inc. (NASDAQ:NFLX) Having A Big Week
While Netflix (NFLX) is making a big move in the stock market this week after pulling back near a long-term support level, investors should wait for Netflix stock to form and break out of a proper base before buying.
Traders should watch for a move higher to retest prior reaction highs at around $355.00 before the stock experiences some consolidation. If the stock breaks out from pivot point and 50-day moving average levels at around $370.00, traders should watch for a move to retest prior highs of around $420.00. If the stock moves lower, traders could see a move to retest lows near S1 support and the 200-day moving average at $300.00.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 353.04.
The projected upper bound is: 365.39.
The projected lower bound is: 309.71.
The projected closing price is: 337.55.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 49.5555. This is not an overbought or oversold reading. The last signal was a buy 1 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 43.71. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 1 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -17. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 4 period(s) ago.
Rex Takasugi – TD Profile
NETFLIX INC closed up 10.290 at 338.020. Volume was 39% above average (neutral) and Bollinger Bands were 21% narrower than normal.
Open High Low Close Volume___
331.000 341.500 329.700 338.020 14,783,246
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 335.30 372.44 294.88
Volatility: 39 47 46
Volume: 8,451,557 12,503,466 9,909,895
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
NETFLIX INC is currently 14.6% above its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect volume flowing into and out of NFLX.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on NFLX.O and have had this outlook for the last 24 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.