Netflix is making headlines again, its stock reaching a new all-time high. If you follow our blog, you should remember that we covered Netflix in our weekly Trading Roundup a couple of months ago.
Last Friday, Netflix closed at $301.05 per share, meaning that the company's stock is up 50% since the start of 2018. The company is now worth more than $130 billion, landing a position next to media giants – Disney ($155 billion) and Comcast ($169 billion).
Netflix's current market cap is surely not the limit. The reason? The company's CFO, David Wells, told investors that they would continue to invest massively in content and also said that the company expects to have around 700 original TV series worldwide this year.
So, what happened to Netflix's share price? Read on for an overview from one of our analysts, a leading industry expert!
A Brief Overview of Netflix Stock CFD Price
As we could see, the price respected our previous #NFLX analysis, and spiked above last resistance, making new highs. The H4 chart suggests either continuation or retracement. In the case of retracement, watch for the POC zone – 291.18-296.14, but also pay attention to 306.08 as the price could bounce from that specific level as well (W H3). In the case of continuation, a clear 4h close is needed above 325.36 for a move towards 367.35.
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Wishing you a blast of a weekend and safe trading,
Olga & Nenad