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Netflix Inc Rises 5.35% on Heavy Volume: Watch For Potential Pullback

By James Quinn

Netflix Inc (NASDAQ:NFLX) traded in a range yesterday that spanned from a low of $364.11 to a high of $384.25. Yesterday, the shares gained 5.4%, which took the trading range above the 3-day high of $365.98 on volume of 9.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Netflix Inc have traded between a low of $144.25 and a high of $379.75 and are now at $379.66, which is 163% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of Netflix Inc on May 9th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $329.73. Since that recommendation, shares of Netflix Inc have risen 10.3%. We continue to monitor NFLX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders netflix inc

Ticker(s): NFLX