Market Overview

Netflix Higher Off Positive Comments From CFO

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Netflix, Inc. (NASDAQ: NFLX) shares are trading higher by $2.40 (1.4 percent) at $184.14 in Tuesday's session.

The catalyst for the rally is positive comments from CFO David Wells, while speaking at the Goldman Sachs Communacopia Conference. One of the those comments being the company is "very close" to being cash flow positive.

After higher open, Netflix retreated to $180.64 before continuing its move higher. So far, the ensuing rally took the stock to $185.15, but has backed off to the $184.00 area. That high coincides with a trio of highs from late July and early August.

If the rally continues over the next few days, there may be only minor resistance levels until its July 27 high ($190.00).

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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