Netflix Stages Fairly Substantial Reversal Intraday

Shares of Netflix, Inc. (NFLX) have staged a fairly substantial reversal on Wednesday. After opening weaker, the stock has been gaining in the last hour and is currently $1.75 higher from intraday lows of $184.75, a turnaround of more than 1%. Having said that, buyers need to step up and support the issue here in the $185.00 – $186.00 area, or the weakness that the equity experienced earlier in the session could gain some traction. The day’s trading range for the ticker has been between $184.75 and $188.05 per share.

In the last month, NFLX has shed 4.2%, but has spiked over 256% over the last 52-weeks, making it one of the top performing stocks of fiscal 2010. NFLX has a market cap of $9.7 billion and a 50-day moving average of $181.53. The median Wall Street price target on the stock is $145.00 with a high target pps of $225.00.

At last check, shares of Netflix were down 34 cents, or 0.16%, to $186.34.

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About Ron Haruni 1069 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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