Why cancel Netflix, Inc. (NASDAQ:NFLX)?

Why cancel Netflix, Inc. (NASDAQ:NFLX)?

Why cancel Netflix, Inc. (NASDAQ:NFLX)?

The streaming leader does not require a subscription. You can sign up for a month, watch a whole bunch of shows, and then leave. The company’s steady subscriber growth suggests that’s not happening in any major numbers, but that doesn’t mean you can’t make it work for you.

Whether you need to be a steady 12-months-a-year subscriber to Netflix depends on your viewing habits and those of others in your household.

In my house, my wife and I have a handful of shows we watch together that air on “normal” network schedules of one episode per week. From October through May, we’re generally watching selections from our DVR, and we rarely turn to Netflix.

At other times of the year, we will watch an episode or two of a streaming show each night. Sometimes that’s a show that airs on Hulu or Amazon Prime. If that’s the case, we may rarely turn to Netflix.

Ideally, if we managed our TV watching better, we could probably drop Netflix five or six months a year. We don’t because our wireless phone plan comes with Netflix included, but if that wasn’t the case, we would not have to make major changes to our viewing habits to drop the streaming leader for parts of the year.

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 323.81.

The projected upper bound is: 378.54.

The projected lower bound is: 320.04.

The projected closing price is: 349.29.

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 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

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 48.5072. This is not an overbought or oversold reading. The last signal was a sell 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 60.48. 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 14 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 48. This is not a topping or bottoming area. The last signal was a sell 1 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 1 period(s) ago.

Rex Takasugi – TD Profile

NETFLIX INC closed up 2.860 at 347.570. Volume was 44% below average (neutral) and Bollinger Bands were 46% narrower than normal.

Open High Low Close Volume___
338.000 348.000 338.000 347.570 7,561,391

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 343.62 301.97 336.29
Volatility: 36 64 55
Volume: 8,414,667 12,884,936 11,623,085

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 is currently 3.4% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. 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 24 periods.

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