Five Star Stock Watch: Netflix, Inc.
The company: Netflix, Inc.
Ticker Symbol: (NASDAQ: NFLX)
Industry: Music & Video Stores
Netflix, Inc. provides an Internet television network service that enables subscribers to stream TV shows and movies directly on TVs, computers and mobile devices in the United States and internationally. The Domestic Streaming segment offers access to content delivered over the Internet to various connected devices, such as PCs, Macs, game consoles, smart TVs, Blu-ray players, home theater systems, Internet video players, digital video recorders and mobile devices.
Related: Five Star Stock Watch: Sirius
In addition, the International Streaming segment engages in the streaming services primarily in Canada, Latin America, the United Kingdom, Ireland, Finland, Denmark, Sweden and Norway. The Domestic DVD segment provides DVD-by-mail subscription services.
Please take a look at the 1-year chart of Netflix below with added notations:
NFLX has been on a nice steady climb for most of 2013. Over the last six months, the stock also seems to have created a trendline of support in which it has tested a total of five different times. Traders should monitor this line to identify appropriate entry points, or exits if they are already in the stock. The trendline of support is approaching $350.
Related: Five Star Stock Watch: Google
Netflix is set to release earnings on January 23, 2014.
No matter what your strategy, or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.