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What Netflix’s Chart Is Saying

What Netflix’s Chart Is Saying

Netflix (NASDAQ:NFLX) has undergone many changes since the customer backlash against a change in its pricing policy. The stock is still in a transition period, but better earnings and a huge expansion overseas should help to turn the price higher.

The Trade Of The Day recommended NFLX as “a bottom fishers stock” on Jan. 26 with a short-term target of $120. It easily made that target and then pulled back on profit-taking. The company’s management has set a new and more acceptable pricing strategy, and NFLX’s greater flexibility gives it a jump on streaming video.

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International expansion and its ability to provide exclusive offerings and original programming should keep Netflix ahead of its competition. Technically, NFLX has broken through the conjunction of the 20- and 50-day moving averages, which should provide trade to $125, but the longer-term target is $150.

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