Netflix, Inc.Long
NFLX Momentums is Positive Ahead Of Earnings Release
NFLX results are expected today after market close with an EPS forecast at 2.56. Technically, the fast green moving average is above the orange intermediate moving average, and the intermediate orange moving average is above the slow red moving average. Moreover, there is angle and separation to indicate the presence of underlying momentum. During 2020 the lockdown accelerated subscribers, however, the pace has slowed in 2021 as economies opened. As a result, NFLX has looked elsewhere for growth and has expanded into video gaming, purchasing Night School Studio in September. Investors will be looking for signs of progress. Revenue and earnings likely grew albeit at a declining rate. Market participants will also take note of the trend regarding paid streaming subscribers. We will keep an eye on the moving average stack following the earnings release to assess if the market is still willing to keep up its NFLX momentum push.
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