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Netflix Inc Falls 1.54% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Netflix Inc (NASDAQ:NFLX) traded in a range yesterday that spanned from a low of $407.80 to a high of $416.79. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $410.60 on volume of 8.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Netflix Inc share prices have moved between a 52-week high of $423.21 and a 52-week low of $149.65 and are now trading 176% above that low price at $412.46 per share. The 200-day and 50-day moving averages have moved 1.29% higher and 1.76% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Netflix Inc and will alert subscribers who have NFLX in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders netflix inc

Ticker(s): NFLX