NEW YORK – Netflix Inc. (NFLX) shares demonstrated significant strength, closing the week on a high note and setting a new 52-week record. The streaming giant ended the day at
16.45 (1.26%). Positive sentiment carried through after the bell, with the stock inching up another $0.38 (0.029%) in after-hours trading.
The trading session was decidedly bullish from the start. After opening at
1,331.34** around midday. While the stock saw some profit-taking and pulled back from this peak, it found solid support and consolidated in the latter half of the day, closing firmly in positive territory.
This price action, characterized by a strong rally and the ability to hold most of its gains, paints a very optimistic picture for investors.
Outlook for Monday:
The technical signals from Friday’s strong performance suggest a bullish outlook for the start of the new trading week.
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Positive Momentum: The stock closed with a substantial gain and continued to rise in after-hours trading. This indicates that buying pressure remains strong and is likely to carry over into Monday’s session.
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Key Resistance Level: The new 52-week high of $1,331.34 is now the critical level for traders to watch. If the stock can break above and hold this level, it would confirm the continuation of the uptrend and could attract a new wave of buyers.
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Solid Support: The ability to find support and consolidate after hitting a new high is a sign of market strength. The afternoon trading range around
1,325 will likely act as an initial support zone.
Given the strong close and the establishment of a new high, investors can anticipate that Netflix shares will likely attempt to test or surpass the $1,331.34 level on Monday. The prevailing momentum favors the bulls heading into the next session.
