Potentially Rebound after Yesterday's 1.80% Sell Off
NetFlix traded in a range yesterday that spanned from a low of $163.81 to a high of $170.13. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $164.26 on volume of 4.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
NetFlix share prices have moved between a 52-week high of $197.62 and a 52-week low of $52.81 and are now trading 216% above that low price at $166.69 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.7% while the 200-day MA has risen 1.7%.