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Shares of NetFlix Rise Above Previous 52-Week High

By Amy Schwartz

Shares of NetFlix (NASDAQ:NFLX) traded at a new 52-week high today of $165.50. Approximately 999,000 shares have changed hands today, as compared to an average 30-day volume of 14.6 million shares.

In the past 52 weeks, NetFlix share prices have been bracketed by a low of $78.90 and a high of $165.50 and are now at $164.34, 108% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

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.

NetFlix (NASDAQ:NFLX) defies analysts with a current price ($164.34) 8.7% above its average consensus 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.

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 72.2%. 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

Ticker(s): NFLX