NFLX ready for $500?

Jul 19, 2023

It was trading nicely in this wedge formation but it broke out before earnings. I was hoping it would trade inside until earnings but I guess it wanted to start filling in the gap it had. Still has room to fill up all the way to $507.57. Good earnings report with huge subscriber count could push it to fill the gap. If it reports lower subscriber count then we could see a huge drop maybe back to $430 range.

Jul 20, 2023

Note

NFLX earnings: growth in subscriber count and beat on EPS but fell short on revenue and weak guidance heading into Q3. No clear guidance, especially with the strike going on and how it could effect the future of NFLX, is what contributed to the sell off. I predicted drop back to around $430 and we basically got there AH as it reached as low as $431 before climbing back to $438.
I could see it hit the $430 support and trade within the range of the 21 daily MA. Although, if whole market drops, it could begin to drop back to its $411.50 support.