Turn off the news and look at $NFLX – November 5, 2024
This is Scott at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. It’s election day and you will probably be glued to the news tonight.
When you’re done getting all the information you need from the news, turn on Netflix ( NASDAQ: NFLX ). Or at least turn on the Netflix ( NASDAQ: NFLX ) chart because this is looking great.
It’s in a well-defined uptrend and above all the major moving averages. Netflix ( NASDAQ: NFLX ) has been a big winner all year long, though it hasn’t been without its volatility and its dips under the 50-day moving average.
Most recently we had earnings, it gapped up, it’s held the gap and just been going sideways here, riding this daily 8 exponential period moving average. I can draw a quick little trend line right across that level at 769.94, and I would look for a follow-through on this move, to the upside.
I would definitely have an alert on Netflix ( NASDAQ: NFLX ) right below 770.00, and look for some continuation of this strong trend. Because after all this time we’ve been watching the news a lot, it’s time to get back to the important things on Netflix ( NASDAQ: NFLX ). And of course, you know I’m talking about the new season of Love Is Blind.
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