NetFlix Bearish Moving Average Crossover Alert (NFLX)
NetFlix (NASDAQ:NFLX) shares have crossed bearishly below their 10-day moving average of $101.87 on a volume of 2.4 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.
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 $101.50, which is 29% 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 subscribers consider buying shares of NetFlix on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $95.90. Since that recommendation, shares of NetFlix have risen 7.7%. We continue to monitor NFLX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Netflix