LIVE + Today’s Wells Fargo Insight

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Now, let’s talk about what financial professionals at Wells Fargo are analyzing this morning…

Ticker Code Ticker Name Ticker Industry Price Change Average Volume (50)*
RCL Royal Caribbean Cruises Ltd Travel Services 6.83% 23,577,543
BA Boeing Co Aerospace & Defense -22.75% 35,724,675
EAT Brinker International Inc Restaurants 36.49% 3,782,805
OKE Oneok Inc Oil & Gas Midstream 28.44% 7,239,765
TRIL Trillium Therapeutics Inc Biotechnology 37.27% 1,994,583
TSLA Tesla Inc Auto Manufacturers 33.75% 17,976,725
BYND Beyond Meat Inc Packaged Foods 50.49% 9,380,893
AAPL Apple Inc Consumer Electronics 17.34% 39,040,876
ZM Zoom Video Communications Inc Internet Content & Information 12.58% 15,028,708
NFLX Netflix Inc Entertainment 14.32% 9,478,773
AAL American Airlines Group Inc Airlines -33.81% 79,785,030
AMZN Amazon Com Inc Internet Retail 17.66% 5,456,536
POWW AMMO, Inc. Ordnance & Accessories, (No Vehicles/Guided Missiles) -18.18% 41,777
W Wayfair Inc Internet Retail 70.89% 5,317,764
HSITF Hadasit Bio Holdings Ltd. Biological products, except diagnostic 0% N/A
MVIS Microvision Inc Scientific & Technical Instruments 79.52% 40,710,621
APA Apache Corp Oil & Gas E&P 61.04% 30,465,986
IMMU Immunomedics Inc Biotechnology 57.95% 7,533,659
ROKU Roku Inc Pay TV 25.59% 13,057,472
PINS Pinterest Inc Internet Content & Information 7.04% 13,336,910

Once in a while, stocks such as Netflix (NYSE: NFLX) are a good reminder of how the world we live in has indeed changed through the coronavirus pandemic.

And some of the changes we’ve seen may be here to stay…

For example, streaming services had been quietly taking market share from movie theatres for years – and the coronavirus pandemic may cause the official passing of the torch from movie theatres to home streaming services in full.

Time will tell, but given the demand for Netflix’s streaming service and the fact that Netflix is trading just a few dollars below its all-time-high, I think I’m right about this one.

Supported by the fact that Netflix ranks #10 of the most actively analyzed stocks by financial professionals at Wells Fargo, it appears we’ve really got an interesting stock to dial in on today.

Over the past five weeks, we’ve seen stocks recover from being beaten down in March to about break-even on the year.

So while stocks may be getting ‘pricey’ again, that hasn’t stopped financial analysts and portfolio managers from taking bullish stances on Netflix as a company, and buying up Netflix stock in record-high dollar volume.

In fact, just a couple days ago, portfolio manager Dan Niles issued a statement to Barrons, stating the following:

“While stocks are getting pricey again, I believe Netflix is the #1 stock to own right now. Netflix’s subscriber base has doubled in 2020, and I’m buying more Netflix stock on almost every dip.”

As a trader, I’m not necessarily interested in buying $1M of stock in Netflix today and holding it for twenty years.

I am, however, interested in making a trade on Netflix if the chart presents a trading opportunity which I can comfortably take advantage of.

Shown in green in the chart above, Netflix’s 20-day simple moving average line of about $430/share is critical support as we enter today’s trading session.

This sets a solid foundation for an easy-to-follow trading plan. Should Netflix hold $430/share support, I’ll look to make a bullish trade on Netflix.

Below $430/share, and I’ll take a bearish stance on Netflix… I don’t shy away from red markets!

Let me know how your trading goes today!

And I’ll see you HERE at 4pm Eastern Time!

Yours for TrackStar trading,

Davis Martin
America’s #1 Premarket and Day Trader

Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.

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