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Look for Shares of Netflix Inc to Potentially Rebound after Yesterday's 3.55% Sell Off

By James Quinn

Netflix Inc (NASDAQ:NFLX) traded in a range yesterday that spanned from a low of $403.51 to a high of $421.00. Yesterday, the shares fell 3.6%, which took the trading range below the 3-day low of $415.88 on volume of 6.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Netflix Inc share prices have been bracketed by a low of $252.16 and a high of $449.52 and are now at $404.41, 60% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.2%.

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