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Netflix Inc Falls 4.09% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Netflix Inc (NASDAQ:NFLX) traded in a range yesterday that spanned from a low of $298.98 to a high of $307.81. Yesterday, the shares fell 4.1%, which took the trading range below the 3-day low of $303.24 on volume of 3.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Netflix Inc on July 18th, 2019 by issuing a Downtrend alert when the shares were trading at $325.08. Since that call, shares of Netflix Inc have fallen 3.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Netflix Inc share prices have been bracketed by a low of $231.23 and a high of $386.80 and are now at $299.69, 30% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

Keywords: rebounders netflix inc

Ticker(s): NFLX