LOS GATOS, Calif. – Netflix Inc. (NASDAQ: NFLX) shares powered higher on Friday, delivering a strong performance that saw the stock briefly reclaim the key $1,300 psychological level, signaling solid bullish momentum heading into the new trading week.
The streaming giant closed the official session at
12.32, or 0.96%. The day’s trading was a showcase of buyer strength, as the stock opened at $1,292.00, well above the previous close of
1,302.26**, exciting investors.
While the stock couldn’t hold above the $1,300 mark into the close and saw a minor dip to $1,295.13 in after-hours trading, the overall picture remains highly positive. The afternoon session represented a healthy consolidation of strong morning gains rather than a significant reversal.
Outlook for Monday:
The outlook for Netflix shares on Monday is bullish, with a clear level for traders to watch.
The primary test for the stock will be to reclaim and, more importantly, hold the $1,300 level. Friday’s intraday breach of this price demonstrated that buyers have the strength to push the stock higher. A successful move above this mark early on Monday could attract fresh buying interest and open the door for a continuation of the rally.
While the failure to close above $1,300 might lead to some initial resistance, the strong daily gain and the solid close well above the previous day’s price give the bulls a distinct advantage. Investors should anticipate an attempt to build on Friday’s momentum when the market opens.
