NFLX - Targets $482 (-15%) on subscriber growth missNetflix misses on Subscriber growth number. 2.20 million vs. 3.57 million expected.
If you ask me the expectation was too high and set to disappoint.
The chart is already forming a double top and creating short them resistance to the upside.
Last time when NFLX missed subscriber growth numbers and had a Quarterly decline was Q2 2019. On these results the stock traded down -15% before going higher into Q3 2019.
We will see a similar decline on this subscriber miss. I might to try to make a move up to catch the SMA with the gap down AH before it continues to trade lower by the end of the week.
RSI will curve down with 5 straight days of selling. Hoping for some buyers will show up next 2 days to build some downside resistance day after tomorrow.
Targets $482 – 15% from previous highs. could go much lower.
Already down in AH.
NASDAQ:NFLX Always trades down after ER before moving up.
Chart looks like a coloring class. Still new at this.
Do follow and comment below for your targets on NFLX for this week.
