| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 411.95 |
| Take Profit | 380.00 |
| Stop Loss | 420.00 |
| Key Levels | 380.00, 412.00, 445.00, 475.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 445.05 |
| Take Profit | 475.00 |
| Stop Loss | 435.00 |
| Key Levels | 380.00, 412.00, 445.00, 475.00 |
Current trend
Shares of Netflix Inc., an American entertainment company and movie and series streaming service, are trending correctively at 430.00.
The situation with the protest actions of the screenwriters of all major studios is beginning to settle down: according to Reuters, the protesters agreed to negotiate with representatives of major studios. Due to staff disruptions, the fall season of series and television shows that generate the most corporate income could be significantly affected.
Earlier, the company’s management announced the revision of the parameters of the advertising deal with Microsoft Corp. from 2022, providing for the provision for Netflix Inc. ad-supported platforms to implement a streaming service subscription, as well as a minimum guarantee of future revenues, which will be adjusted. Per-viewer fees now range from 39.0 dollars to 45.0 dollars, according to The Wall Street Journal.
The corporation’s financial report was deemed satisfactory, with revenues of 8.19B dollars, below the forecast of 8.27B dollars, and earnings per share of 3.29 dollars, exceeding analysts’ expectations of 2.84 dollars.
Support and resistance
On the daily chart, the quotes are moving within the ascending corridor of 500.00–380.00, holding in the middle of the range.
Technical indicators, despite corrective fluctuations, confirm the global decline: fast EMAs of the Alligator indicator are below the signal line, and the AO histogram forms corrective bars in the sell zone.
Resistance levels: 445.00, 475.00.
Support levels: 412.00, 380.00.
Trading tips
Short positions may be opened after the price drops and consolidates below 412.00 with the target at 380.00. Stop loss – 420.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 445.00 with the target at 475.00. Stop loss – 435.00.
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