Netflix, Inc. (NASDAQ:NFLX) shares rise nearly 4% after SEC filing shows streaming company is enjoying ‘strong international growth’ outside saturated US market

Netflix, Inc. (NASDAQ:NFLX) shares rise nearly 4% after SEC filing shows streaming company is enjoying ‘strong international growth’ outside saturated US market

Netflix, Inc. (NASDAQ:NFLX) shares rise nearly 4% after SEC filing shows streaming company is enjoying ‘strong international growth’ outside saturated US market

Netflix stock saw a nearly four percent rise on Tuesday, a day after the company filed favorable revenue data with the SEC. 

Stock closed at $315.48 but managed to hit $316 during the day. The stock rise was clocked at 3.7 percent. 

The rise in stock comes a day after Netflix ‘released historical streaming revenue, membership and average revenue per paying streaming membership by region.’ 

In the Monday SEC filing, Netflix shared close to three years’ worth of financial information and broke up their results by region: United States and Canada, Europe, the Middle East and Africa; Latin America and the Asia-Pacific.

And for Several Wall Street analysts, the company appears to be doing exceptionally well on international growth. 

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 333.46.

The projected lower bound is: 299.14.

The projected closing price is: 316.30.

Candlesticks

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 27 white candles and 22 black candles for a net of 5 white candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 71.6464. This is not an overbought or oversold reading. The last signal was a sell 11 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 62.44. 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 58 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 107.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 2 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 9 period(s) ago.

Rex Takasugi – TD Profile

NETFLIX INC closed up 11.270 at 315.480. Volume was 37% above average (neutral) and Bollinger Bands were 29% narrower than normal.

Open     High      Low     Close     Volume___
307.360 316.800 306.600 315.480 10,437,127
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 302.57 293.14 326.25
Volatility: 36 38 40
Volume: 5,819,827 7,526,671 7,282,046

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.

Summary

NETFLIX INC gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
NETFLIX INC is currently 3.3% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of NFLX.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on NFLX.O and have had this outlook for the last 45 periods.

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