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Bullish Moving Average Cross by NetFlix (NFLX)

By David Diaz

Today, shares of NetFlix (NASDAQ:NFLX) have crossed bullishly above their 10-day moving average of $89.95 on a volume of 3.2 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of NetFlix have traded between a low of $78.90 and a high of $133.27 and are now at $90.35, which is 15% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of NetFlix on April 19th, 2016 by issuing a Downtrend alert when the shares were trading at $97.79. Since that call, shares of NetFlix have fallen 8.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Netflix

Ticker(s): NFLX