Shares of Netflix, Inc. (symbol ‘NFLX’) had an exponential growth in the last quarter fo the year and managed to rise by around 30%. The company’s earnings report for the fiscal quarter ending December 2023 is expected to be released on Tuesday 23rd of January, after market close. The consensus EPS is $2.20, against $0.12 of the same quarter last year.
‘ The company’s net income managed to increase by around 20% year over year and had steady growth in all the consecutive quarters of 2023. As of 30/09/2023 the total assets outweigh total liabilities at a ratio of almost 2:1 while the debt of the company just slightly increased by 0.09% year over year but still makes up almost half of the total liabilities. The company also has a decent current ratio which stands at 129% meaning that it has the ability to repay its short term liabilities with the current assets in possession. ‘ said Antreas Themistokleous, trading specialist at Exness.
From the technical analysis perspective the price has been trading with relatively steady bullish momentum throughout the majority of the quarter making consistent gains on its share. Currently the price is testing the resistance of the 61.8% of the weekly Fibonacci retracement level and seems to be correcting at the time of this report being written while facing the inside support area that price rejected in mid December. If this is temporary and the price continues its upward momentum then the area of $500 might be the next area of possible resistance since it is the psychological resistance of the round number as well as the previous high that currently acts also as a resistance.