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Posted On: 01/17/2017 1:55:56 PM
Post# of 642
Shares of Netflix, Inc. (NASDAQ:NFLX) reversed sharply from a gap higher. The stock traded as high as $135.40 before collapsing on heavy volume. Netflix, Inc. currently trades at $132.50. The high of the day also tagged a major trend line connecting recent highs. This can be seen in the stock chart below. The reversal on Netflix, Inc. could likely be a warning sign to investors who are holding into earnings on Wednesday, after the stock market closes. Could this be big money selling heavily into the earnings release? Considering the stock is at all-time highs, and the heavy volume reversal today, it is wise to be very careful being long.
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