- The stock price of Netflix (NASDAQ: NFLX) trades between the range.
- Netflix Inc. stock earnings rise annually
- The NFLX stock has shown a rise of 82% in one year.
Netflix stock is currently on an uptrend, forming higher highs in its price movement. The price is currently trading at $402.14.
In the last year, Netflix stock has grown by 82.78%, which is quite impressive. This strong performance might catch the eye of potential buyers. It’s important to mention that Netflix currently has a market value of $178 billion and approximately 436.6 million shares available for trading.
The price of Netflix (NFLX) stock hit a peak at $700 in November 2021 before starting to decline. Over the course of six months since then, the stock price dropped by more than 75%. However, the stock found support around the $168 level and began to climb. Within 2 month after June 2022, the stock price made an impressive recovery of nearly 194%. It displayed a strong upward trend during this period.
Currently, the stock is trading within a narrow range, but the overall weekly structure of Netflix Inc. appears trending. The current price suggests that it’s likely to reach new highs soon.
According to the income statement, Netflix stock is experiencing an increase in its profit margin percentage, and its revenue has also shown growth. This is a positive sign for the stock.
Netflix Inc. (NFLX) Stock Price Analysis
The Netflix Inc. stock is trading above the 50-day and 100-day EMA levels, indicating a rising trend with the potential for further gains.
The MACD and signal lines are both above the zero line, and a green histogram is forming, indicating upward momentum in Netflix Inc. shares.
Furthermore, when we examine the RSI and 14-day SMA lines, they are hovering near the 70 mark in positive territory. This suggests a likelihood of future price increases.
Conclusion
Based on the analysis, Netflix Inc. (NFLX) stock is currently on an upward trajectory and is likely to continue rising. The price has reached new highs, and various indicators send positive signals. This indicates that we can expect further increases in the stock price in the coming days.
Technical Levels
· Support Level– $462.
· Resistance Level- $393
Disclaimer
The views and opinions of the author or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.