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Actionable news in NFLX: Netflix, Inc.,

Netflix, Inc., Plug Power Inc And Valeant Pharmaceuticals Intl Inc-Today's Technical Stock Trading Ideas

Netflix, Inc. (NASDAQ:NFLX) stock is on the verge of a 'Death Cross' and is testing a key long-term support.

Shares of Los Gatos, California-based company Netflix Inc (NASDAQ:NFLX) have largely been in a downtrend since hitting an all-time high of $165.88 on June 8th. Netflix stock has failed to bounce back till now after it saw a key reversal pattern following the all-time highs. We had also recently highlighted that the stock was facing strong resistance from its major 50-day Simple Moving Average (SMA). As things stand now, the video streaming giant's share price is below the 20-day and 50-day SMAs. It seems that the stock could be in for a prolonged downward spell as it is on the verge of a bearish 'Death Cross'. According to Investopedia, "A death cross is a crossover resulting from a security's long-term moving average breaking above its short-term moving average or support level. As long-term indicators carry more weight, this trend indicates a bear market on the horizon and is reinforced by high trading volumes." In the case of Netflix, its long-term 50-day SMA is all set to break above its critical short-term 20-day SMA. The two SMAs are tentatively separated by just a few cents and would soon form a 'Death Cross'. Further weakness in the share price could also see NFLX stock testing its key long-term support of...


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