NETFLIX STOCK RISES ABOVE MA5 ON RATINGS UPGRADE
Netflix’s stock is currently trading at 350.36-higher by 4.08% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 1.98%. The stock has continued gaining after the opening bell.
Loop Capital Markets upgraded the digital media company’s stock to buy from hold. Loop Capital also raised its price target to $425. Loop said that the company has built an unstoppable lead in subscription video streaming and the margin opportunity is expanding as it increasingly becomes content producer, distributor, and retailer. Stocks of Netflix have risen 26% so far this year.
On the technical front, the RSI is currently at 47.22% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is below the middle line of the Bollinger Bands but is heading upwards.
TRADE SUGGESTION- STOP BUY AT 350.75 TAKE PROFIT AT 353.75 STOP LOSS AT 349.25