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NetFlix Crosses Below its 10-day MA (NFLX)

By James Quinn

Today, shares of NetFlix (NASDAQ:NFLX) have crossed bearishly below their 10-day moving average of $158.42 on a volume of 1.6 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

NetFlix share prices have moved between a 52-week high of $161.78 and a 52-week low of $78.90 and are now trading 100% above that low price at $157.49 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.4%.

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 66.2%. We continue to monitor NFLX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Netflix

Ticker(s): NFLX