Tuesday, 10 September 2013

NFLX - accelerating to the upside

With the main equity market climbing for a ninth day, Netflix (NFLX) was part of the party, soaring an impressive 6.4% @ $313. Near term trend has been consistently to the upside since mid August ($260s), and today's move was an extremely bullish signal.

NFLX, daily


NFLX is perhaps becoming the number one Momo stock now, even over-taking Tesla (TSLA).

The bigger monthly/weekly trends are clearly very much to the upside..and today's move solidifies support above the big $300 level.

Where next? You can be sure there will be increased talk of the $500s.

If the main market fails to see any further down waves this autumn, with sp'1800/1900s by year end, then NFLX will probably end 2013 in the 400s.

*I should note, unlike AMZN, at least NFLX is set to make a profit..even if it is a small one. 

see key stats @ yahoo! finance