TMCnet News
NetFlix Set to Possibly Pullback After Yesterday's Rally of 5.57%Jan 23, 2013 (SmarTrend(R) News Watch via COMTEX) -- NetFlix (NASDAQ:NFLX) traded in a range yesterday that spanned from a low of $97.02 to a high of $103.83. Yesterday, the shares gained 5.6%, which took the trading range above the 3-day high of $101.94 on volume of 9.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious. In the past 52 weeks, NetFlix share prices have been bracketed by a low of $52.81 and a high of $133.43 and are now at $103.33, 96% above that low price. The 200-day and 50-day moving averages have moved 0.2% lower and 0.97% higher over the past week, respectively. SmarTrend recommended that subscribers consider buying shares of NetFlix on October 31st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $75.25. Since that recommendation, shares of NetFlix have risen 30.0%. We continue to monitor NFLX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |