😍 REVIEWS News – Paris/France.
Netflix stock seems to have bottomed out. In May and June, prices fell back to $162,71 and $164,28 respectively, but have since recovered significantly. This suggests that the double bottom marks a successful bottom formation. After better than expected numbers, the stock broke through the June high of $207,38 in the second half of July and sparked new buying impulses.
Netflix stock makes a precision landing
The completion of the double bottom formation activated a price target around the $250 mark, which was already dealt with on Thursday. During the day, quotes hit a high of $251,62. Just at this point is the lower edge of the large price gap from April 20th. At that time, the title had collapsed in the face of disappointing quarterly figures and a 35% drop in the number of subscriptions.
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Should investors sell immediately? Or is it worth being on Netflix?
RSI points to an imminent counter move
It needs a move up to $333,22 to close the gap. Even then, there would still be an almost infinite path to the former highs of the $700 range. Given the high values of the Relative Strength Index (RSI), investors should be prepared for some profit taking anyway. A 50-day return to the line (EMA50), which is currently at $214,84, would be possible.
Analysts are mostly neutral
Given the growing competition, especially from Disney, analysts are rather cautious about the future prospects of the title. Most analysts are neutral. There are 12 buy, 1 overweight, 27 hold, 1 underweight and 5 sell ratings. Price targets range from $157 to $399. The average target price is $239,318, which is even slightly below the current price level.
Should Netflix investors sell immediately? Or is it worth starting?
How will Netflix evolve now? Is an entry worth it or should investors sell instead? You can find the answers to these questions and why you need to act now in Netflix's current analysis.
Netflix: buy or sell? Read more here…
SOURCE: Reviews News
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