Netflix Shares Gaining Upward Traction

Shares of Neflix, Inc. (NFLX) are higher on the session by 1.65%, currently trading at $155.24. The ticker, who has all the catalysts it needs to retest the $160 resistance level, is starting to gain some upward momentum here as it lifts above the $155.00 area. Although the stock has seen a few minor dips down off the highs, and all of them were bought, it keeps trying to lift higher intraday as it elevates modestly above its recent momentum consolidation highs. If NFLX moves above the $160 zone it should mark a renewed uptrend for a retest at $165 levels short-term.

NFLX is currently trading 9.4% above its 50-day moving average of $142.16 and 53.39% above its 200-day moving average of $101.39. Look for these moving averages to climb to confirm the company’s upward momentum.

At last check, NFLX shares were up $2.41 to $155.19, a gain of 1.58%. The historical high price for NFLX was $170.63 on the 29th of September 2010. The lowest price was $2.61 on the 9th of October 2002.

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About Ron Haruni 1067 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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