NFLX dominated by bears dragging the market lower throughout the day
Netflix Inc. (NFLX) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
NFLX ended Monday at 307.78 losing $3.87 (-1.24%) on high volume. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 308.23, the stock confirms its breakout through the prior session's low having traded $4.23 below it intraday.
Daily Candlestick Chart (NFLX as at Apr 16, 2018):
Monday's trading range was $12.10 (3.83%), that's slightly below last trading month's daily average range of $12.35. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
After having been unable to move above 317.49 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 316.10.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the nearby swing high at 317.49 where further buy stops could get triggered. With prices trading close to this year's high at 333.98, upside momentum might accelerate should Netflix be able to break out to new highs for the year.
With four out of the other four FAANG Stocks closing higher today, the ones that stand out on the positive side are GOOGL gaining 0.97% and AMZN closing 0.75% higher. None of the markets ended the day in the red. Read more