For Traders

Analytical Reviews

Stock Markets

21.04.202119:40 Forex Analysis & Reviews: Netflix stock price declines after earnings announcement

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Netflix announced today its quarterly financial results and while earning were better than expected, the subscriber growth was worse than expected and top of that the expectations of new subscriber additions for the current quarter are very low. Price is falling by 7% in trading today April 21st 2021.

As we mentioned in our previous analysis on Netflix stock, price was trading in a sideways range and we would prefer to be bearish while price was near the green resistance rectangle area, looking for a move towards the red rectangle support area. Long-term trend remains neutral as price continues to trade inside the trading range. Short-term support is found at $498 area. Breaking below this level will open the way for a move towards $470.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.