Netflix Stock Forecast
Is Netflix stock still a buy after falling -9.09% on Friday?
(Updated on Apr 19, 2024)
Given the current short-term trend, the stock is expected to rise 14.85% during the next 3 months and, with a 90% probability hold a price between $637.46 and $746.22 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NFLX Signals & Forecast
There are few to no technical positive signals at the moment. 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 $607.94 and $614.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -12.75%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Netflix stock
Netflix finds support from accumulated volume at $544.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $26.83 between high and low, or 4.86%. For the last week the stock has had daily average volatility of 3.29%.
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 Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Netflix to open at $562.06, and during the day (based on 14 day Average True Range), to move between $536.75 and $573.33, which gives a possible trading interval of +/-$18.29 (+/-3.30%) up or down from last closing price. If Netflix takes out the full calculated possible swing range there will be an estimated 6.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $562.00 (1.25%) than the support at $544.87 (1.83%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
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: -2.430 Sell Candidate Unchanged
Predicted Opening Price for Netflix of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $562.06 ( 1.27%) | $555.04 |
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 | 588.89 | 6.10 % | |
| R2 | 578.64 | 4.25 % | ||
| R1 | 572.31 | 3.11 % | ||
| Current price: | 555.04 | |||
| Support | S1 | 551.81 | -0.581 % | |
| S2 | 545.48 | -1.72 % | ||
| S3 | 535.23 | -3.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 575.79 | 3.74 % | |
| R2 | 570.42 | 2.77 % | ||
| R1 | 562.00 | 1.25 % | ||
| Current price | 555.04 | |||
| Support | S1 | 544.87 | -1.83% | |
| S2 | 492.19 | -11.32% | ||
| S3 | 485.71 | -12.49% |
FAQ
Click here for our free guide on how to buy Netflix Stock.
