Apex Trader Funding - News
Netflix Is Enjoying An Upward Trajectory — But This Chart Shows Bearish Bias Ahead Of Q1 Earnings
Wall Street expects Netflix Inc (NASDAQ:NFLX) to report $4.52 in EPS and $9.28 billion in revenues when first-quarter (Q1) earnings are released after market close.
Year-to-date, the streamer’s stock is up about 27%. For the past year, it’s up 84.45%. But as Netflix heads towards reporting Q1 earnings, the technical analysis of the company’s stock points toward mixed sentiments with a slight bearish bias.
See below.
Netflix Stock Technical Setup Ahead Of Q1 Earnings
Chart: Benzinga Pro
Read: ‘Enormous 8’ Member Netflix Just Made New 52-Week High, Valuations Suggest Profit-Taking Opportunity
The eight-day simple moving average (SMA) indicates bulls taking charge. Values recently crossed over the current share price.
Similarly, the 20-day SMA now also lies above the share price, reinforcing positive trading sentiments. ...