Netflix shares gain for a second session in a row on Monday, company acquires Millarworld

According to an August 7th statement by Netflix Inc (NFLX), it acquired comic book publisher Millarworld, which marked the companys first acquisition ever. Owned by writer Mark Millar and his wife, Millarworld is to provide Netflix with a number of character franchises for the development of movies, TV series as well as childrens shows. However, no specific terms of the deal have so far been disclosed.

Netflix shares closed higher for a second consecutive trading session on Monday. The stock went up 0.59% ($1.06) to $181.33, after touching an intraday high at $182.27, or a price level not seen since August 2nd ($182.57). In the week ended on August 6th the shares of the Internet television network lost 2.05% of their market value compared to a week ago, which marked a second consecutive period of decline. The stock has pared its loss to 0.13% so far during the current month, following a 21.58% surge in July. The latter has been the best monthly performance since October 2016. For the entire past year, the shares of the NASDAQ-listed company rose 8.24%.

According to Netflix, Millarworld is to keep on creating and publishing new stories and franchises under Los Gatos, the Netflix label.

“Mark is as close as you can get to a modern-day Stan Lee”, Ted Sarandos, Netflixs Chief Content Officer, was quoted as saying by Reuters, in a reference to the 94-year-old writer and creator of franchises such as “Spider-Man”, “X-Men” and “Avengers”.

Millarworld has developed franchises such as “Kick-Ass”, “Wanted” and “Kingsman” into movies, which have generated almost $1 billion in the global box office.

According to CNN Money, the 37 analysts, offering 12-month forecasts regarding Netflix Inc’s stock price, have a median target of $197.00, with a high estimate of $230.00 and a low estimate of $73.00. The median estimate is an 8.64% surge compared to the closing price of $181.33 on August 7th.

The same media also reported that 22 out of 41 surveyed investment analysts had rated Netflix Inc’s stock as “Buy”, while 12 – as “Hold”. On the other hand, 3 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Netflix stock are presented as follows:

R1 – $181.62
R2 – $181.91
R3 (Range Resistance – Sell) – $182.20
R4 (Long Breakout) – $183.07
R5 (Breakout Target 1) – $184.09
R6 (Breakout Target 2) – $184.54

S1 – $181.04
S2 – $180.75
S3 (Range Support – Buy) – $180.46
S4 (Short Breakout) – $179.59
S5 (Breakout Target 1) – $178.57
S6 (Breakout Target 2) – $178.12

By using the traditional method of calculation, the weekly levels of importance for Netflix Inc (NFLX) are presented as follows:

Central Pivot Point – $181.02
R1 – $184.22
R2 – $188.18
R3 – $191.38
R4 – $194.59

S1 – $177.06
S2 – $173.86
S3 – $169.90
S4 – $165.95