Today’s instrument is Netflix Inc.‘s stock traded on the Nasdaq exchange under the ticker NFLX. 

When we look at the NFLX ‘s chart, we can see its downward trend extend in this week also, falling from the $350 after a brief failed attempt to move above $359, to the $348 region where it attempted to consolidate but also failed, leading to a further fall in the $337 range where it was last found trading and forming temporary support at the $332 level.

Netflix Inc. has scheduled a quarterly earnings announcement today 19/04/2022. If earnings expectations are surpassed, we could expect the price to move upwards, towards the $370. 

Today we can expect a move above the $342 closest resistance level, possibly in the $350 range.

If however, it doesn’t manage to hold on to the current level then a move towards and below the $332 closest temporary support level can be expected.

(Click on image to enlarge)