Netflix has climbed along with most other major Nasdaq stocks. Today we’ll consider some longer-term patterns on the streaming giant.
First is the February 3 high of $379.43, which NFLX broke last week. Clearing that level could make some chart watchers expect further moves to the upside.
Next is $458.48. Prices topped out there sixteen months ago as the stock trended lower. It may be the next logical resistance.
Above that, you have the January 20, 2022, close of $508.25. NFLX sat there immediately before plunging on a weak quarterly report early last year.
Investors planning exits may focus on these levels in the coming months. Options traders may also use them to select strikes and build strategies.
There are two other potentially bullish signals to consider. In the short-term, MACD is rising. In the longer-run, the 100-day simple moving average (SMA) has mostly risen since autumn. This contrasts sharply with the bear market early last year.
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This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.
First is the February 3 high of $379.43, which NFLX broke last week. Clearing that level could make some chart watchers expect further moves to the upside.
Next is $458.48. Prices topped out there sixteen months ago as the stock trended lower. It may be the next logical resistance.
Above that, you have the January 20, 2022, close of $508.25. NFLX sat there immediately before plunging on a weak quarterly report early last year.
Investors planning exits may focus on these levels in the coming months. Options traders may also use them to select strikes and build strategies.
There are two other potentially bullish signals to consider. In the short-term, MACD is rising. In the longer-run, the 100-day simple moving average (SMA) has mostly risen since autumn. This contrasts sharply with the bear market early last year.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.
