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Watch for Netflix Inc to Potentially Pullback After Gaining 9.56% Yesterday

By Nick Russo

Netflix Inc (NASDAQ:NFLX) traded in a range yesterday that spanned from a low of $323.77 to a high of $337.89. Yesterday, the shares gained 9.6%, which took the trading range above the 3-day high of $317.49 on volume of 21.7 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 $84.50 and a high of $337.89 and are now at $337.58, which is 300% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Netflix Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Netflix Inc in search of a potential trend change.

Keywords: rebounders netflix inc

Ticker(s): NFLX