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Uptrend ExhaustionArchive
- 11/15/2024 -
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NetFlix Inc (NFLX) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third consecutive positive week for the NetFlix Inc (NFLX). During the week, the NFLX gained 29.10 points, or 3.66%, and closed at 824.00 on Friday, November 15, 2024. Weekly volume was -19% below average.
NFLX is a member of Communication Services Sector. Communication Services is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See NFLX long-term trend chart]
A long-term uptrend had started on October 18, 2023 at 344.73 and reached 841.00 on November 14, 2024. NFLX gained -496.27 points, or -143.96%, in 56 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (648.46) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See NFLX medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 587.04 and reached 841.00 on November 14, 2024. NFLX gained -253.96 points, or -43.26%, in 14 weeks. The price is now at the 6.69% retracement level.
 Weekly Technical Indicators: [See NFLX weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 20, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
Short-term trend: [See NFLX short-term trend chart]
A short-term uptrend had started on October 17, 2024 at 677.88 and reached 841.00 on November 14, 2024. NFLX gained -163.12 points, or -24.06%, in 28 days. The price is now at the 10.42% retracement level.
 Daily Technical Indicators: [See NFLX daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since November 5, 2024. This is an indication that the short-term trend is up.
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