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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|
|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|
|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:
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,
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.