Netflix earnings to be released after the close. What are the technicals saying?
Netflix will announce earnings after the close. The expectations are for:Earnings Per Share (EPS): Expected at $4.52.Revenue: Forecasted at $9.28 billion.Total Memberships: Anticipated to reach 264.21 million.Netflix is transitioning from targeting subscription growth to a profit prioritizing model. As such they have announced price hikes: enforcing their password sharing policies. There also exploring ad supported subscriptions, video gaming, and broadcasting live sports.Netflix shares are trading down 2 dollars or -0.32% at $611.72. The price at the end of 2023 was $486.88. The price is up in around 25% for the year. Its all-time high price reached $700.99 back in November 2021. The high price this year has come in at $639..In 2023 the stock price rose 65.11%.Looking at the daily chart below, the price is going into earnings after testing trendline support as well as its 50-day moving average today. A move below those levels opens the door for more downside corrective probing. The 38.2% comes in at $571.33. They moved to that level would imply a 6.5% decline from current levels. I come more momentum without traders looking for the high from the year at $639. That would imply a gain of around 4.35%. This article was written by Greg Michalowski at www.forexlive.com.
Netflix will announce earnings after the close. The expectations are for:
- Earnings Per Share (EPS): Expected at $4.52.
- Revenue: Forecasted at $9.28 billion.
- Total Memberships: Anticipated to reach 264.21 million.
Netflix is transitioning from targeting subscription growth to a profit prioritizing model. As such they have announced price hikes: enforcing their password sharing policies. There also exploring ad supported subscriptions, video gaming, and broadcasting live sports.
Netflix shares are trading down 2 dollars or -0.32% at $611.72. The price at the end of 2023 was $486.88. The price is up in around 25% for the year. Its all-time high price reached $700.99 back in November 2021. The high price this year has come in at $639..
In 2023 the stock price rose 65.11%.
Looking at the daily chart below, the price is going into earnings after testing trendline support as well as its 50-day moving average today. A move below those levels opens the door for more downside corrective probing. The 38.2% comes in at $571.33. They moved to that level would imply a 6.5% decline from current levels. I come more momentum without traders looking for the high from the year at $639. That would imply a gain of around 4.35%. This article was written by Greg Michalowski at www.forexlive.com.
