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Netflix Inc Set to Possibly Rebound After Yesterday's Selloff of 3.12%

Feb 09, 2018 (SmarTrend(R) News Watch via COMTEX) --

Netflix Inc (NASDAQ:NFLX) traded in a range yesterday that spanned from a low of $240.33 to a high of $255.80. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $245.00 on volume of 6.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Netflix Inc on January 2nd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $198.54. Since that recommendation, shares of Netflix Inc have risen 26.0%. We continue to monitor NFLX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Netflix Inc has traded in a range of $84.50 to $286.81 and is now at $241.99, 186% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

Write to Chip Brian at cbrian@mysmartrend.com

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