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NFLX Stock Prediction – Powering Higher Before Earnings! WOW!

July 18, 2023
4:45 pm

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All right, so welcome to another Stock Spotlight, where we go ahead and take a look at some tickers that are worth mentioning and talking about. In today’s episode, we’re going to take a look at Netflix. It’s been powering higher quite a bit, and there’s a lot of news around the company. If you actually take a look at what’s happening here, they’ve got the password crackdown here that’s supposed to happen, and password sharing should be a little bit more difficult. So, in either case, that’s pushing the stock, along with many other companies.

Market Trends

If we just go and take a look at some of the big boys and players, Netflix is up 24 today, which is about five percent. Meanwhile, some other companies like AT&T, Fox, and Six Flags are not performing as well. On the other hand, Microsoft is doing quite fantastic.

It’s up about fifteen dollars.

Technical Analysis and Earnings

Looking at the chart of Netflix, it was down quite a lot from a technical basis, but we may see it go back up to the 700 level. It had a massive overselling period down into the 170s and now it’s up in the 474s. If you were able to buy it back when everyone was panicking, good for you.

However, now the stock is a little less favorable, and it might face some resistance around the 500 zone. With earnings right around the corner, we’ll see if they can push the stock further.

Long-Term Outlook

Looking at Netflix’s longer-term trajectory, it looks very good. The lines show positive movement, and the channel looks solid. The stock has been building up momentum and power with nice volume, which is a positive sign for its future growth.

Cautious Approach and Conclusion

In the short term, I would be cautious around the levels of 575, 580, and 590. Although the stock looks good and healthy, its high price tag requires a bigger range for fluctuations. For now, it should continue to power and push higher.

Additional Resources

I highly encourage you to check out our TradersFly channel on YouTube to learn more about option trading and how to trade expensive stocks more cost-effectively. You can also explore great webinars at tradingwebinars.co for further insights.

Conclusion

Thank you for joining me. I truly appreciate it. I will see you in the next video. Take care.

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