Netflix (NFLX) Stock rose sharply today, Trend remains lower but flattening

By InvestMacro.com | #stocks #NFLX #Netflix

Netflix, Inc. End of Day Update: October 13 2022

The Netflix, Inc. (NFLX) stock jumped today with a strong increase of 9.32 percent and closed the day around the 232.51 price level, according to unofficial data at the New York close.

Netflix, a leading technology streaming company, opened the trading day at 212.69 price level with the high of the day at 234.47 and the low of the day at 211.73.

There was news out today for Netflix as the company announced a new ad-supported membership plan that will cost $6.99 in the US and international markets.

The NFLX Trend is Down, RSI level is Bullish

The stock is currently trending lower over the past 200 trading days, according to the linear regression line (red) seen on the chart below. Despite the downtrend this year, the Netflix stock has started to see a moderate uptick from its lows of earlier in the year and the 20-day moving average has been flat in the past few months.

The Relative Strength Index, an indicator that can identify overbought (above 70) and oversold levels (below 30), shows that the current RSI is at a 50.7 score. This is a Bullish reading on the daily time-frame of the standard RSI Indicator. The chart below uses a smoothed (moving average of levels) version of the RSI that will lag slightly but be more consistent.

NFLX Price Returns (Closing Price Changes)

The NFLX has declined by -3.00 percent over the past 10 days while seeing a move higher by 4.00 over the past 30 days. The 90-day change is 17.94 while the 180-day return and the 365-day return are -35.36 and -53.79, respectively.

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