After Netflix's stock quietly rallied 73% over six months, a rare bullish 'golden-cross' pattern is on the verge of occurring.
Netflix Inc.’s stock has been quietly rallying for months, enough to put it on the verge of producing a rare bullish chart pattern that suggests that a longer-term uptrend is just getting started.
After closing at a record $691.69 on Nov. 11, 2021, Netflix shares plunged 76% to a five-year low of $166.37 on May 11. Netflix’s 50-DMA line currently extends to $256.48, according to FactSet, and has been rising an average of $1.17 per day over the past 10 days, while the 200-DMA comes in at $260.19 and has been falling by an average of 70 cents a day.
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