Netflix Stock Forecast
Netflix stock price up 1.74% on Thursday
(Updated on Apr 25, 2024)
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $556.74 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.35% during the next 3 months and, with a 90% probability hold a price between $597.64 and $693.64 at the end of this 3-month period.
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NFLX Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 1.84%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Netflix stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $575.94 and $609.54. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Netflix stock
Netflix finds support from accumulated volume at $562.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $20.83 between high and low, or 3.82%. For the last week, the stock has had daily average volatility of 4.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NFLX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Netflix to open at $559.02, and during the day (based on 14 day Average True Range), to move between $545.62 and $583.98, which gives a possible trading interval of +/-$19.18 (+/-3.40%) up or down from last closing price. If Netflix takes out the full calculated possible swing range there will be an estimated 6.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $562.85 (0.35%) than the resistance at $570.42 (1.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Netflix stock A Buy?
The Netflix stock holds several negative signals and despite the positive trend, we believe Netflix will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.067 Sell Candidate Unchanged
Predicted Opening Price for Netflix of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$559.02 ( 1.02%) | $564.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NFLX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 579.85 | 2.66 % | |
R2 | 571.89 | 1.26 % | ||
R1 | 566.97 | 0.385 % | ||
Current price: | 564.80 | |||
Support | S1 | 551.06 | -2.43 % | |
S2 | 546.14 | -3.30 % | ||
S3 | 538.18 | -4.71 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 610.56 | 8.10 % | |
R2 | 575.79 | 1.95 % | ||
R1 | 570.42 | 1.00 % | ||
Current price | 564.80 | |||
Support | S1 | 562.85 | -0.345% | |
S2 | 555.04 | -1.73% | ||
S3 | 554.60 | -1.81% |
FAQ
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