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Bearish Moving Average Cross by Netflix Inc (NFLX)

By Amy Schwartz

Today, shares of Netflix Inc (NASDAQ:NFLX) have crossed bearishly below their 10-day moving average of $311.21 on a volume of 1.7 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Netflix Inc has traded in a range of $231.23 to $386.80 and is now at $304.22, 32% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Netflix Inc on July 18th, 2019 by issuing a Downtrend alert when the shares were trading at $325.08. Since that call, shares of Netflix Inc have fallen 3.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses netflix inc

Ticker(s): NFLX