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Asset Watch
Tuesday, December 12, 2022
But even though the once high-flying growth stock has become more of a value play, should you snap up shares during the next pullback?
Netflix remains in an uptrend, as the stock has been making higher highs and higher lows since mid-October. However, the 20-day (black line) and 50-day (blue line) moving averages have largely acted as support since the summertime rally started, and the Dec. 9 candle shows that Netflix has run ahead of the 20-day MA.
Furthermore, the last three times this happened, Netflix suffered pullbacks, and two of the three resulted in the price falling below the 20-day MA. Therefore, while $275 (the 50-day MA) looks like an appetising entry, should you at least wait for $300 (the 20-day MA) before making your move?
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