Netflix's stock in 2021 has been a rollercoaster, starting with a strong 62% rise by July, nearing the $500 mark, before experiencing a sharp downturn. The stock fell below the crucial 200-day moving average to around $370, marking a significant 28% drop, but found some support at the weekly 50-day average near $350.
The Q3 earnings report was a turning point, with actual earnings of $3.73 surpassing the estimated $3.49. This led to a positive market reaction, with the stock opening 16% higher post-announcement and climbing 28% since then. The surge in earnings was primarily due to robust subscriber growth, a key indicator of the company's future financial health and stock potential.
Looking ahead, Netflix faces major resistance levels, first at the $500 psychological mark, and then at last year's high of $609. Overcoming these barriers could signal further bullish trends. As of November, the stock is showing strong performance with an 8% increase, adding to the positive outlook among investors.
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The Q3 earnings report was a turning point, with actual earnings of $3.73 surpassing the estimated $3.49. This led to a positive market reaction, with the stock opening 16% higher post-announcement and climbing 28% since then. The surge in earnings was primarily due to robust subscriber growth, a key indicator of the company's future financial health and stock potential.
Looking ahead, Netflix faces major resistance levels, first at the $500 psychological mark, and then at last year's high of $609. Overcoming these barriers could signal further bullish trends. As of November, the stock is showing strong performance with an 8% increase, adding to the positive outlook among investors.
If you enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
