The high beta (riskier) names have been pulling in their horns, ready for a big charge forward – and Netflix has been at the head of the pack. Up strong for the year, this stock has defied the naysayers, and though it missed on the recent earnings report, its potential for revenue subscription growth is substantial.
The chart shows a huge turn upward Monday on very good turnover. Overall, the stock is exhibiting tremendous relative strength. Resistance is up ahead at $115 or so, and while we may hit a wall, some follow-through over the next couple of days will provide us with more confidence that the stock will go higher – maybe even up towards all-time highs by year end.
Netflix Stock Chart (Nasdaq: NFLX)
The MACD was ready to turn downward, but it may be on a renewed buy signal. The turnover at the $115 area (arrows) show where the sellers reside, but another big push may very well get us over that resistance.
In our Explosive Options service, we added the November 115 call, and we will look for another strike to pick up.
Netflix Video Chart Analysis
Take a deeper dive into the chart action (Nasdaq: NFLX) and learn how to read the technicals and analysis as Bob Lang marks up our chart of the week.
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About Neflix
Netflix, Inc., an Internet television network, engages in the Internet delivery of TV shows and movies directly on TVs, computers, and mobile devices in the United States and internationally. The company operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. It also provides DVDs-by-mail membership services. As of September 9, 2015, the company had approximately 65 million customers in 50 countries. Netflix, Inc. was founded in 1997 and is headquartered in Los Gatos, California.
