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Shares of NetFlix Rise to a New 52-Week High

By James Quinn

NetFlix (NASDAQ:NFLX) traded today at a new 52-week high of $162.37. So far today approximately 2.5 million shares have been exchanged, as compared to an average 30-day volume of 14.6 million shares.

Over the past year, NetFlix has traded in a range of $78.90 to $162.37 and is now at $161.81, 105% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

NetFlix (NASDAQ:NFLX) is currently priced 7.3% 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.

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 64.5%. 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