NFLX
🚀 Netflix broke out to new all-time highs, reaching $1,100 this week after strong earnings reported previously.
💪 The stock exhibited significant relative strength (RS rating of 97), holding up well and finding support on moving averages while the broader market declined.
📈 High volume accompanied the breakout, confirming strong buying demand, although the speaker personally opted out due to the speed of the move without further consolidation.
@VisionariosBolsa:
“We have stocks like Netflix. I think I talked about Netflix last week, or maybe the one before, making new all-time highs. In fact, it was last week, and I told you it presented results and we’d probably see it above $1,000 this week, and now it’s at $1,100. It had a super good breakout. Honestly, I didn’t enter this breakout to highs; volume was very high. Why was it so obvious Netflix would go to highs? For the simplest reason: the market is supply and demand. Stop looking for the latest news, stop seeking explanations for everything, stop looking for the algorithm, the indicator. No, focus on what moves the market: supply and demand. If, when the entire market is crashing, something is holding up, demand is entering there. It’s that simple. Let’s reduce it to the simplest terms. If market prices fluctuate due to supply and demand, and in a moment of excessive supply in the market due to an event causing significant distribution, there’s a lot of selling pressure, but we see a stock isn’t falling or even continues to rise, a lot of money is entering there. Someone is taking advantage to buy, and that’s what we’ve seen in Netflix. Look how over the last month, it maintained this uptrend, found support on moving averages, RS 97. The RS rating measures relative strength from 1 to 99; 99 is the maximum, meaning you’re the best performing company in the market, and Netflix has a 97. There must be a reason, right? Well, the normal thing is for it to maintain that trend, and look how this week it goes to new highs. As I said, I didn’t buy Netflix; some visionaries did. In fact, they were discussing it in the premium chat. I think one mentioned buying it. I don’t know if anyone else did. I didn’t buy it. I actually commented that I would have liked to see it consolidate a bit more to even add it to the long-term portfolio, but it didn’t consolidate further. Perfect for those who are in, for Netflix investors.”
Watch the exact part of the video where @VisionariosBolsa talks about Netflix here:
Watch the video on YouTube
Read more articles analyzing Netflix (NFLX) at the provided link. NFLX stock.
