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Netflix(NFLX - Get Report) is an Internet subscription service streaming television shows and movies. The stock is trading up 6% at $92.29 in recent trading.
Today's Volume: 13.3 million
Average Volume: 8.45 million
Volume % Change: 222%
Shares of NFLX are soaring higher today after the company said it will begin its push into the U.K. and Ireland, marking the start of a European expansion that will push it into a loss this year but will attract new customers in the long run.
From a technical standpoint, NFLX is approaching another big breakout trade if the stock can manage to take out some past overhead resistance at $93.84 with volume. Volume today is already well above the average action and the stock has already hit a daily high of $93.58.
A move and close over $93.84 with volume should be considered very bullish since this will bring a large gap down from $120 into play from back in October of 2010.
Netflix, one of TheStreet Ratings'
top-rated online retail stocks, shows up on a list of
6 Tech Stocks to Avoid in 2012 but was also featured recently in "
5 Big Stocks to Trade for Gains."