Netflix Surging On High Volume (NFLX)

Netflix NFLX is moving higher again today, after stumbling on Friday as a result of a couple of analysts' downgrades. On the day, NFLX shares have gained 4.54% to $105.13. Volume will likely exceed daily averages, with 1.54 million shares already trading hands in the first hour of trading. The company now has a market cap of $5.50 billion. The $100 level in this stock will likely be significant this week. If you are looking to get involved in red-hot NFLX, look for it to show significant support in the $100 area. There have been buyers in this stock right off of the open, which continues to suggest that there is a lot of demand for NFLX shares. There have also been rumors of a possible buyout from Amazon AMZN, which could provide a further catalyst for this stock.