Today’s instrument is the Netflix Inc. (NFLX) stock traded in the NASDAQ exchange under the ticker NFLX.
Photo by Alexander Shatov on Unsplash
When we look at the NFLX’s chart, we can see it trading a downward trend, falling lower and lower, without showing the ability to consolidate at any level or indicating a reversal. The closest temporary support can be found at $510 and the closest resistance at $525. It was last found trading at $515
Netflix Inc. will announce its quarterly earnings today 20th January. If earning expectations are surpassed, we could expect the price to move upwards, towards the $530 price level
Today we can expect a move close to the $525 closest overhead resistance level.
(Click on image to enlarge)
If however, it does not manage to hold on to the current level then a move below the $510 closest support can be expected.
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