If you’ve invested in Netflix – monetarily, of course, not just in hours watched – things are about to start looking very good for the streaming giant. Stock predictors say that the current patterns that are playing out surrounding Netflix are similar to the last time Netflix was a breakout in the market. Best part, this isn’t just good news for those who have purchased stock.
The last time Netflix broke out in the stock market like this was back in 2015. The stock had been had been trading between mid-$40 and $60 for almost all of 2014. Then after hitting an impressive 100-week marker, the stock soared above 170-percent. And, now it looks like Netflix is at it again.
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“We have this well-defined trading range, this pullback into the 100-week moving average, and a strong move coming out,” said Netflix and Evercore ISI technician Rick Ross. “So, I think we’re going to take out the high end of this trading range and move significantly higher for the stock.”
Essentially this means that Netflix could easily overtake its previous all-time high of stock sitting at nearly $134. Currently, the stock is sitting at $128.
What does this mean for those who have only invested hours of watching the streaming network? It means that the service could easily be looking at gaining more money in the upcoming years to help put together even more original content. This means that, while those investing money are sure to continue to invest dollars, those investing time will easily be able to invest more hours.
As the stock grows, the service is likely to grow as well, giving everyone just more of a reason to binge the day away.
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[H/T NBC]
