Here's how Netflix could hit an all-time high
9th January 2019 09:44
by Alistair Strang from Trends and Targets
Share on
The popular streaming service recently made gains after winning a handful of Golden Globes. Chartist Alistair Strang uses his software to analyse where this FAANG could be heading.
Netflix (NASDAQ:NFLX)
Almost grudgingly, we access this lot just for two series; The witty "Good Place" and the new "Star Trek" TV show, two different types of hell for most folk.
We must concede Netflix (NASDAQ:NFLX) share price appears to be improving, along with its content and as the US earnings season approaches, it's worthy of a glance.
The immediate picture is fairly tame with movement above $322 entering a logical cycle to an initial $351. As the chart illustrates, this donks against the downtrend since July last year. Our secondary, should the price manage to actually close above blue (just $352 at present), comes in at $425 though we must admit, with positive news, the share could easily accelerate to $535 and a new all-time high.
If trouble is planned, the price must break 'red' on the chart ($231 at present). Such a calamity, while visually unlikely, risks reversal sharply down to an initial $193. Worse, if broken, bottom calculates at a very messy $139, a point where it almost must bounce.
Of course, there's always a risk we're influenced by Netflix's decision to produce another show, Lucifer, which was in danger of vanishing. As can be safely guessed by a list of telly favourites, entertainment isn't taken too seriously amongst the folk at T&T.
Source: Trends and Targets. Past performance is not a reliable indicator of future results
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.