Today, I'll be taking a in-depth look at the stock of Netflix Inc. (NASDAQ:NFLX). The stock enjoyed a very nice move from May through July, but has since stalled out. After making a high in July, the stock has pulled back from the $472 level to where it is currently trading around the $427 level.
Netflix was founded by Reed Hastings, who had the brilliant idea of sending DVDs through the mail directly to your home. This was a disruptive idea at the time, which put many mom-and-pop video rental stores out of business. Now Netflix is expanding and streaming videos directly to your computer, bypassing the post office, which is even a better idea, in my opinion.
Netflix has to be the undisputed leader in entertainment/streaming video field, but now has lots of competition in the form of Hulu, Amazon, Apple and many others. My thoughts are that Netflix will continue to be the major player and continue to own the major portion of the video streaming business.
Netflix already has expansion plans in the works, with test programs in Europe and elsewhere. The great thing about video streaming is, it is not like a package that has to be delivered physically to your address, it simply comes down the Internet pipeline to your home.
Technically I see Netflix Inc. (NASDAQ:NFLX) beginning to set itself up for another upward push. Only one or two more technical pieces need to fall in place before this move will begin to accelerate to the upside.
Today we are looking at an indicator that we have not looked at recently and I'll share with you the setup that is beginning to take place that could be very positive for Netflix. In this short video, you'll learn how this indicator works and how you can best profit from it.
Every success with MarketClub,