Back to market news

Netflix bearish tone prevails ahead of earnings

Online-video streaming giant Netflix (NASDAQ: NFLX) is expected to publish its fourth-quarter financial results after the markets close on Thursday, January 20.

Netflix bearish tone prevails ahead of earnings

Online-video streaming giant Netflix (NASDAQ: NFLX) is expected to publish its fourth-quarter financial results after the markets close on Thursday, January 20. The company is expected to post quarterly earnings of $0.84 per share and revenues are expected to be $7.7 billion.

The key area to focus on in the fourth quarter of 2021, the subscriber growth. The company forecasting 8.5 million new streaming subscribers for the last quarter. During the third quarter, the company added approximately 4.4 million new paid streaming memberships and its quarterly revenue increased by 16% year over year to about $7.5 billion.

Netflix recently announced that it has decided to raise the prices of most of its subscription plans in the U.S. and Canada. “We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options” – Netflix said.

$NFLX Technical Review

Netflix stock continues the bearish sentiment ahead of the Q4 earnings call. The stock is down 11% since the beginning of this year and over the last three months, the stock is down more than 20%. The stock reached a record high of $700 on Nov. 11. On Tuesday, the stock closed another 2% lower at $510.

netflix

In the short term, if the bearish momentum continues the next downside target at $500 and $475. On the flip side, the immediate resistance is around $550. if the price holds above $560, the next upside level is to watch $590 and then $620.

Trading is risky and your entire investment may be at risk. Please ensure that you fully understand the risks involved.

Read more

Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

Global stocks and commodities started the new on a bearish note due to rising COVID-19 cases and newly recorded deaths in China fuelled concerns over the global economic outlook. This week, traders and investors should pay attention that the November U.S. unemployment report is due Friday.

Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

This week the trading will be thinned out for the last two days and liquidity is expected to remain low as US financial markets are closed on Thursday and a half-day on Friday for the Thanksgiving holiday. The main event on the calendar for monetary policy this week is the meeting of the Reserve Bank of New Zealand on Wednesday.

Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

Global stocks and precious metals ended last week on a positive note. The investors were in a buying mood after the most awaited US inflation number unexpectedly dropped to 7.7% in October. The main attraction for this week is the retail sales figures from the US, China and UK.