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Netflix stock hits new high as ad revenue soars

Netflix (Symbol: NFLX) continues to assert its dominance in the streaming industry, with its stock reaching new heights, consistent with its increase in advertising revenue. Its share price soared, closing at an all-time high surpassing its previous peak from 2021. This comes as the company just announced a noticeable boost in ad spending, with major advertisers increasing their budgets by 150%. We peer into analysis to see further insights into price action. The chart shows a consistent uptrend, with the stock trading well above key Exponential Moving Averages (EMAs), particularly the 72-period EMA. The MACD indicator supports this bullish sentiment, with the MACD line comfortably above the signal line, indicating ongoing positive momentum. Read more to find out about the Netflix stock price here.

more about Netflix stock price

Disclaimer:

The surge in Netflix stock price is appealing to trend traders looking to capitalise on the momentum. However, traders should be cautious of potential profit-taking that could lead to volatility in the near term.

Publication date:

2024-08-24 14:59:59 (GMT)

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