Netflix, Inc. (NASDAQ:NFLX) stock rallies
Shares of Netflix Inc. NFLX, +1.45% rallied 1.3% toward fresh intraday highs in afternoon trade Monday, reversing earlier losses, after Apple Inc. AAPL, -0.03% announced its rival new Apple TV+ service. The new service will include original programming, and offer suggestions for shows and movies from over 150 streaming apps, including Amazon.com Inc.’s AMZN, +0.54% Amazon Prime and Hulu, but not Netflix.
Reed Hastings, Netflix’s CEO, said last week that the company had chosen not to integrate into Apple’s services, while the Netflix app will continue to be available in Apple’s app store. Netflix’s stock was down as much as 1.0% as Apple started announcing its new services. Over teh past 12 months, Netflix shares have rallied 21.4% and Apple’s stock has climbed 13.3%, while the Dow Jones Industrial Average DJIA, +0.06% has gained 8.4%.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 390.03.
The projected lower bound is: 344.10.
The projected closing price is: 367.06.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 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 52.1172. This is not an overbought or oversold reading. The last signal was a sell 5 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 55.29. 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 sell 44 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 34. This is not a topping or bottoming area. The last signal was a sell 1 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 buy 3 period(s) ago.
Rex Takasugi – TD Profile
NETFLIX INC closed up 5.220 at 366.230. Volume was 100% below average (consolidating) and Bollinger Bands were 55% narrower than normal.
Open High Low Close Volume___
359.000 367.040 357.440 366.230 149
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 364.03 352.11 340.27
Volatility: 42 42 56
Volume: 6,818,213 9,196,620 11,621,286
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 7.6% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 7 periods.
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