Will NFLX Stock Sustain Above Key EMAs
The post Will NFLX Stock Sustain Above Key EMAs appeared on BitcoinEthereumNews.com. Netflix stock price has seen a surge after the company beat Wall Street expectations. The company reported that subscribers have grown by 8.8 Million and also came out with new plans. Netflix may have solved its password sharing issue, limiting the use of the account to only one user. The company also came up with a new subscription plan in which users can watch advertisements and pay less while watching shows and movies. The company reported a third-quarter revenue of $48.542 Billion which shows a year-on-year growth of 7.8% while the net income rose by $1.677 Billion from $1.398 Billion. Netflix has shown a strong chart structure in recent trading sessions. The price was above the key moving averages. The sellers were wary of the competition and waited for a decline to show their influence. But seeing the rise, they were closing their positions, staying on the sidelines. The buyers kept making long positions and steadily moved above $400. NFLX stock was trading at $401.77 at the time of writing with a remarkable gain of 16.05% for the day, showing extreme bullishness in the last trading session. The trading volume for the day was 28.074 Million. The market cap of NFLX stock was $178.043 Billion. The stock displayed the bulls’ strength and maintained the gains leading the way. As per the stock technicals, analysts maintained a buy rating, and the target price of $600 showing the stock’s bullishness. Technical Analysis of Netflix Stock Price in 1-D Time Frame Source: Netflix.1D.NYSE by TradingView Currently, Netflix stock (NYSE: NFLX) is trading above the 50 and 200-day exponential moving averages (EMAs), which are supporting the price momentum. However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, Netflix price is expected to…
The post Will NFLX Stock Sustain Above Key EMAs appeared on BitcoinEthereumNews.com.
Netflix stock price has seen a surge after the company beat Wall Street expectations. The company reported that subscribers have grown by 8.8 Million and also came out with new plans. Netflix may have solved its password sharing issue, limiting the use of the account to only one user. The company also came up with a new subscription plan in which users can watch advertisements and pay less while watching shows and movies. The company reported a third-quarter revenue of $48.542 Billion which shows a year-on-year growth of 7.8% while the net income rose by $1.677 Billion from $1.398 Billion. Netflix has shown a strong chart structure in recent trading sessions. The price was above the key moving averages. The sellers were wary of the competition and waited for a decline to show their influence. But seeing the rise, they were closing their positions, staying on the sidelines. The buyers kept making long positions and steadily moved above $400. NFLX stock was trading at $401.77 at the time of writing with a remarkable gain of 16.05% for the day, showing extreme bullishness in the last trading session. The trading volume for the day was 28.074 Million. The market cap of NFLX stock was $178.043 Billion. The stock displayed the bulls’ strength and maintained the gains leading the way. As per the stock technicals, analysts maintained a buy rating, and the target price of $600 showing the stock’s bullishness. Technical Analysis of Netflix Stock Price in 1-D Time Frame Source: Netflix.1D.NYSE by TradingView Currently, Netflix stock (NYSE: NFLX) is trading above the 50 and 200-day exponential moving averages (EMAs), which are supporting the price momentum. However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, Netflix price is expected to…
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