Netflix Inc (NFLX)
Report on 19/04/2022 streaming platform
BUY - 330-340
TP - 394
SL - 298
Fundamentally all eyes in the coming report are on net subscriber list change. Whether it beats company's and analysts forecasts or not. This figure was the main reason of decline in price after Q1 results release. Q2 is historically a weaker than average quarter, so don't expect bright forecasts also. With that said there is a possibility we can go even lower.
Technical analysis meanwhile gives several signals for entering LONG position:
- Strong support line;
- forming of "W";
- Oversold by RSI index.
So, my strategy in this case:
- BUY at current level to benefit from a better than expected report and subscriber dynamics.
- On the other side, if report and subscriber expectations are bad and the prices slip down I would double the position at 300$ level, which used to be a support level earlier.
Report on 19/04/2022 streaming platform
BUY - 330-340
TP - 394
SL - 298
Fundamentally all eyes in the coming report are on net subscriber list change. Whether it beats company's and analysts forecasts or not. This figure was the main reason of decline in price after Q1 results release. Q2 is historically a weaker than average quarter, so don't expect bright forecasts also. With that said there is a possibility we can go even lower.
Technical analysis meanwhile gives several signals for entering LONG position:
- Strong support line;
- forming of "W";
- Oversold by RSI index.
So, my strategy in this case:
- BUY at current level to benefit from a better than expected report and subscriber dynamics.
- On the other side, if report and subscriber expectations are bad and the prices slip down I would double the position at 300$ level, which used to be a support level earlier.