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Recent 52-Week High Exceeded in Shares of NetFlix (NFLX)

By Amy Schwartz

NetFlix (NASDAQ:NFLX) traded at a new 52-week high today of $166.87. Approximately 698,000 shares have changed hands today, as compared to an average 30-day volume of 14.6 million shares.

Based on a current price of $165.68, NetFlix is currently 9.5% above its average consensus analyst price target of $150.00. NetFlix shares have support at the 200-day moving average (MA) of $106.20 and additional support at the 50-day MA of $98.99.

Over the past year, NetFlix has traded in a range of $78.90 to $166.87 and is now at $165.68, 110% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.4%.

Netflix Inc. is an online movie rental service. The Company ships up to three DVDs at a time, with no due dates or late fees, directly to the subscriber's address. Netflix also provides background information on DVD releases, including critic reviews, member reviews and ratings, and personalized movie recommendations.

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 72.7%. 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

Ticker(s): NFLX