Netflix, Inc. (NASDAQ:NFLX) took a hit and finished the day at $29.82
Among the S&P 500’s biggest fallers on Wednesday October 10 was Netflix Inc. (NFLX). The stock experienced a 8.38% decline to $325.89 with 16.9 million shares changing hands.
Netflix Inc. started at an opening price of 353.52 and hit a high of $355.15 and a low of $325.39. Ultimately, the stock took a hit and finished the day at $29.82 per share. Netflix Inc. trades an average of 11.05 million shares a day out of a total 435.46 million shares outstanding. The current moving averages are a 50-day SMA of $354.94 and a 200-day SMA of $322.95. Netflix Inc. hit a high of $423.21 and a low of $178.38 over the last year.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 352.37.
The projected lower bound is: 298.94.
The projected closing price is: 325.66.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
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 22 white candles and 28 black candles for a net of 6 black 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 20.4802. 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 33.34. 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 36 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 -185.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 6 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 down -29.820 at 325.890. Volume was 54% above average (neutral) and Bollinger Bands were 15% narrower than normal.
Open High Low Close Volume___
353.520 355.150 325.390 325.890 17,183,120
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 363.62 354.71 324.64
Volatility: 58 49 50
Volume: 9,816,593 9,354,021 10,650,458
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 0.4% above its 200-period moving average and is in an downward 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 bearish on NFLX.O and have had this outlook for the last 1 periods.