NFLX ends the day on a bearish note closing near the low of the day

Netflix Inc. (NFLX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


NFLX tanks -4.28% closing $17.70 lower
NFLX breaks key support level
NFLX dominated by bears dragging the market lower throughout the day
NFLX breaks below 20-day moving average
NFLX closes lower for the 2nd day in a row


Moving lower for the 2nd day in a row, NFLX ended the week -3.05% lower at 395.80 after tanking $17.70 (-4.28%) today. This is the biggest single day loss in over two weeks. Today's closing price of 395.80 marks the lowest close since July 3rd. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 407.80, the stock confirms its breakout through the previous session's low having traded $12.72 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (NFLX as at Jul 13, 2018):

Daily technical analysis candlestick chart for Netflix Inc. (NFLX) as at Jul 13, 2018

Friday's trading range was $14.88 (3.64%), that's slightly above last trading month's daily average range of $12.76. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Breaking below the key support level at 398.86 today, it is now likely to act as resistance going forward.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. Netflix broke below the 20-day moving average at 402.48 today for the first time since May 3rd.

With prices trading close to this year's high at 423.21, upside momentum might speed up should the market be able to break out to new highs for the year. As prices are trading close to July's low at 380.00, downside momentum could accelerate should the share mark new lows for the month.

With four out of the other four FAANG Stocks closing higher today, the ones that stand out on the positive side are AMZN gaining 0.91% and GOOGL closing 0.26% higher. None of the markets ended the day in the red. Read more

Market Conditions for NFLX as at Jul 13, 2018

Loading Market Conditions for NFLX (Netflix Inc.)...
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