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Look for Shares of Netflix Inc to Potentially Pullback after Yesterday's 2.42% Rise

By David Diaz

Netflix Inc (NASDAQ:NFLX) traded in a range yesterday that spanned from a low of $426.38 to a high of $435.00. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $429.50 on volume of 2.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Netflix Inc share prices have moved between a 52-week high of $449.52 and a 52-week low of $252.16 and are now trading 72% above that low price at $434.96 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.7%.

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