Oil Surge Predicted...But Are You Ready?

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Netflix's Remarkable Recovery Journey To Nearly $500 Per Share After Navigating A Steep 28% Drop In The Market

Zaheer Anwari
November 27, 2023
  • Netflix's stock has demonstrated resilience, recovering from a 28% decline between July and October 2023.
  • Currently experiencing a bullish trend, Netflix's stock has gained 61% this year, with a notable 16% increase this month.

Netflix Inc's (NASDAQ:NFLX) stock performance has attracted significant attention, mainly due to its recent price fluctuations.

The stock experienced a considerable downturn between July and October 2023, but has shown resilience by bouncing back.

During this period, the stock experienced a decline of 28%, causing concern among investors and market analysts.

However, the stock found support at the weekly 50 simple moving average, specifically around $360.

This support level played a crucial role in preventing further declines and acted as a catalyst for the stock's subsequent upward trend.

Netflix has recovered well, as it is currently up 38%, but has also significantly rebounded from a deep slump experienced between November 2021 and May 2022, where it saw a 76% decline.

From its lowest point during that time, there has been an impressive 191% surge to the upside.

The stock has experienced a 61% gain this year, including a notable 16% increase for November.

This strong upward trend indicates a bullish momentum. Yet, there are challenges on the horizon.

A crucial resistance level lies at $478, which holds significance as it was the lowest point in May 2021 and served as a turning point for the stock in July

The upcoming days and weeks will be pivotal in determining whether the stock can surpass this resistance level.

2023-11-27_18-31-20_0.jpg

The stock faces a tough hurdle if it surpasses $478. Further ahead, it will confront psychological resistance at the significant milestone of $500.

This milestone is highly valued by investors and can greatly impact the current momentum. However, if Netflix manages to overcome this hurdle, it could lead to a significant surge. The next important resistance level to watch is the 2022 high of $609.

After the closing bell on Friday, November 24, the stock closed at $479.56, trading up by 0.30%.

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