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Netflix, Inc. (NFLX) engages in the Internet delivery of TV shows and movies directly on TVs, computers, and mobile devices in the United States and internationally.
The company operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD.
It also provides DVDs-by-mail membership services. As of September 9, 2015, the company had approximately 65 million customers in 50 countries.
Shares are heading higher in an upward trading channel (shown in blue). The 200-day moving average (green) has acted as a long term support for the stock. The Internet video service debuted in 130 countries Wednesday. Now, Netflix is available in 21 different languages and streaming in just about every market that it had in its sights, with the notable exception of China, the world's most populous country. In an interview, NFLX CEO said the company will try to a partner in China while it tries to appease the country's Communist government, a process that he hopes to complete by the end of this year.
This morning shares are down along with the rest of the market. Use the weakness to establish a new position. We expect higher share prices for this stock.
52-Weeks Trading Range: $ 45.26 - $133.27
Entry Point: $114.50
Stop Loss: $108.75
Target Price: $126.00
NFLX closed at $101.00.
