Netflix Forecast and Stock Analysis
Technical NFLX stock analysis for Wednesday June 19, 2019.
Netflix gained 1.79% in the last trading day ( Wednesday, 19th Jun 2019 ), rising from $357.12 to $363.52 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During day the stock fluctuated 2.42% from a day low at $356.12 to a day high of $364.74. The price has been going up and down for this period, and there has been a 2.19% gain for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.28 million more shares were traded than the day before. In total, 5.62 million shares bought and sold for approximately $2 041.74 million.
- 30 day high of the NFLX stock price was $370.46 and low was $332.65.
- 90 day high was $385.99 and low was $332.65.
- 52 week high for the Netflix - $423.21 and low - $231.23.
Netflix lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.75% during the next 3 months and, with 90% probability hold a price between $317.24 and $357.67 at the end of this period.
Only positive signals in the chart today. Netflix holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $350.18 and $356.42. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday June 14, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
Netflix finds support from accumulated volume at $359.46.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $8.62 (2.42%) between high and low. For the last week, the stock has had a daily average volatility of 2.47%.
Our recommended stoploss: $348.72 (-4.07%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 3 days ago.)
2.47 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.
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|NFLX $363.52 ($6.40 1.79%)|
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