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No changes to the price of Netflix stock on the last trading day (Thursday, 19th Jan 2023). During the last trading day the stock fluctuated 0% from a day low at $326.33 to a day high of $326.33. The price has risen in 6 of the last 10 days and is up by 5.47% over the past 2 weeks.
Wedbush is very positive about NFLX and gave it a "$325.00 - $400.00" rating on Jan 17, 2023. The price target was changed from 325 to 400.Over the last 90 days, this security got 13 buy, 0 sell, and 0 hold ratings.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 13.61% during the next 3 months and, with a 90% probability hold a price between $325.14 and $387.62 at the end of this 3-month period.
The Netflix stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $328.09. On a fall, the stock will find some support from the long-term average at approximately $307.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, January 17, 2023, and so far it has risen 0.0396%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
On the downside, the stock finds support just below today's level from accumulated volume at $290.41 and $289.57.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Netflix finds support just below today's level at $290.41. If this is broken, then the next support from accumulated volume will be at $289.57 and $268.16.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.18%
The Netflix stock is extremely overbought on RSI14 (89). This increases the short-term risk substantially.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Netflix stock to perform well in the short-term.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Check full Netflix forecast and analysis here.