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Netflix Inc Looks to Continue to Trade Above its Annual-High Share Price Today

By Shiri Gupta

Shares of Netflix Inc (NASDAQ:NFLX) traded at a new 52-week high today of $387.69. Approximately 3.5 million shares have changed hands today, as compared to an average 30-day volume of 6.4 million shares.

Based on a current price of $386.99, Netflix Inc is currently 14.5% above its average consensus analyst price target of $330.76. The stock should find initial support at its 50-day moving average (MA) of $329.38 and further support at its 200-day MA of $250.44.

Netflix Inc. is an Internet subscription service for watching television shows and movies. Subscribers can instantly watch unlimited television shows and movies streamed over the Internet to their televisions, computers, and mobile devices and in the United States, subscribers can receive standard definition DVDs and Blu-ray Discs delivered to their homes.

Netflix Inc share prices have moved between a 52-week high of $387.69 and a 52-week low of $144.25 and are now trading 168% above that low price at $386.99 per share. The 200-day and 50-day moving averages have moved 1.22% higher and 1.52% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Netflix Inc on May 9th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $329.73. Since that recommendation, shares of Netflix Inc have risen 15.2%. We continue to monitor NFLX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows netflix inc

Ticker(s): NFLX