USA A1 Trading Advice (B) | 21-May-2024 | Expected Gain 5%-6%

 BUY   Netflix (NASDAQ: NFLX)

Netflix (NASDAQ: NFLX) STOCK RECOMMENDATION

IdeaBUY
Buy Range630 – 640
Target670 – 680
StopLoss*below 605
Duration15-16 Trading Days
Potential Returns5% – 6%
IdeaBuy RangeTargetStopLoss*DurationPotential Returns
BUY630 – 640670 – 680below 60515-16 Trading Days5% – 6%

* Once the first target hit, reset the StopLoss at your buying price.

Our recommendations are authentic and transparent. Find this recommendation posted in Tradingview. Be assured such records are permanent and irreversible.

Netflix (NASDAQ: NFLX) STOCK OVERVIEW

Netflix, Inc. provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices. It has operations in approximately 190 countries. The company was incorporated in 1997 and is headquartered in Los Gatos, California.

Stock Data
NASDAQ Symbol NFLX
Sectoral Index Consumer Discretionary
52 Weeks High 644.37
52 Weeks Low 344.73

Netflix (NASDAQ: NFLX) - RELATIVE STRENGTH

NFLX-RELATIVE STRENGTH

Relative Performance - Last 1 Year

Netflix —     NASDAQ —

Netflix (NASDAQ: NFLX) - DAILY TECHNICAL ANALYSIS

NFLX-DAILY TECHNICAL ANALYSIS
Netflix (NASDAQ: NFLX) - Technical Analysis (Daily)
  • Overall the price is in an uptrend.
  • At near 480 level, price took a rejection and gave a sharp downfall.
  • Finally the price found its support at near 345 level and started moving upside from there.
  • Recently with a fresh breakout, the price is trading at its 52 week high level.
  • The overall sentiments will remain bullish until the price is trading above the 600 level.

Netflix (NASDAQ: NFLX) - RSI

Netflix (NASDAQ: NFLX) - RSI
  • Current RSI of this stock is 67.34, which indicates the strength of buyers.

Netflix (NASDAQ: NFLX) - MACD

NFLX-MACD
Netflix (NASDAQ: NFLX) - MACD
  • MACD line has just crossed the signal line from the below, generates bullish signal.

Netflix (NASDAQ: NFLX) - ADX & DI

Netflix (NASDAQ: NFLX) - ADX & DI
  • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

CONCLUSION - Netflix (NASDAQ: NFLX) STOCK PRICE FORECAST

Based on our short term trading strategies for USA stocks, Netflix stock price target will be USD 670 – USD 680 in the next 15-16 trading sessions.

Netflix (NASDAQ: NFLX) TRADINGVIEW POSITION UPDATE

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable to enter/exit in the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other trading recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance of Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as a Certified Financial Technician (CFTe) by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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