NetFlix Bearish Moving Average Crossover Alert (NFLX)
NetFlix (NASDAQ:NFLX) crossed under its 10-day moving average of $90.40 on a volume of 2.2 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower 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 $90.27, which is 14% above that low price. The 200-day and 50-day moving averages have moved 0.42% lower and 0.06% higher over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of NetFlix on June 10th, 2016 by issuing a Downtrend alert when the shares were trading at $94.32. Since that call, shares of NetFlix have fallen 3.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses Netflix