Netflix Dropped After Earnings And Struggles To Catch A Bid, Watch This Level

Netflix Inc (NFLX) recently declined sharply after reporting earnings on April 20, 2021. The stock dropped by 8.0% after the earnings report and continues to look weak on the charts. Netflix Inc (NFLX) stock is now trading below it’s important 50 and 200-day moving averages. This puts the stock in a weak technical position on the charts and often signals further declines in the near term. 

The next important support area for Netflix Inc (NFLX) stock will be around the $463.00 level. This support area is where the stock was defended in November and September 2020. Often, prior support levels will be defended when initially tested. This level is also a key retrace area which should add to the strength of the support level. 

(Click on image to enlarge)

Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.