NFLX's short position is down ahead of earnings, signaling weak bullish sentiment ?
continues to dominate the streaming industry, maintaining its position as a leader in content creation and distribution. The company's strategic focus on original programming and international expansion has been paying dividends. Netflix's recent crackdown on password sharing and the introduction of an ad-supported tier are expected to contribute positively to subscriber growth and revenue.
In terms of year-over-year (YoY) performance, Netflix is projected to show solid growth. While exact figures are not available, the company's revenue is anticipated to see a high single-digit to low double-digit percentage increase compared to the same quarter last year. This growth is primarily driven by the expansion of its subscriber base and the success of its content strategy.
From a technical standpoint, Netflix's stock has shown resilience in a challenging market environment. The stock is currently trading at $695.74, down 0.89% in the latest session. However, this minor dip is not indicative of the overall trend, as NFLX has demonstrated strong performance throughout the year.
The stock's 52-week range and moving averages suggest a bullish trend, with the price consistently trading above key support levels. The relative strength index (RSI) indicates that the stock is neither overbought nor oversold, providing room for potential upside movement following the earnings report.
For the upcoming earnings report, analysts are expecting earnings per share (EPS) of $5.12 on revenues of $9.8 billion. This represents a significant improvement in profitability compared to previous quarters. The market is pricing in a potential move of +/- 7.6% in the 24 hours following the earnings release, indicating high expectations and potential volatility.
Month-over-Month (MoM) and Quarter-over-Quarter (QoQ) comparisons are expected to show steady growth, albeit at a more modest pace than the YoY figures. This is typical for a maturing company in a competitive industry.
Using XTRACT, we can see an ideal opportunity for long term upside and near term accumulation. A hold above Range4 $695.53 and Range3 $699.16 would suggest an upside move. Below would suggest bears are targeting $670.91
In terms of year-over-year (YoY) performance, Netflix is projected to show solid growth. While exact figures are not available, the company's revenue is anticipated to see a high single-digit to low double-digit percentage increase compared to the same quarter last year. This growth is primarily driven by the expansion of its subscriber base and the success of its content strategy.
From a technical standpoint, Netflix's stock has shown resilience in a challenging market environment. The stock is currently trading at $695.74, down 0.89% in the latest session. However, this minor dip is not indicative of the overall trend, as NFLX has demonstrated strong performance throughout the year.
The stock's 52-week range and moving averages suggest a bullish trend, with the price consistently trading above key support levels. The relative strength index (RSI) indicates that the stock is neither overbought nor oversold, providing room for potential upside movement following the earnings report.
For the upcoming earnings report, analysts are expecting earnings per share (EPS) of $5.12 on revenues of $9.8 billion. This represents a significant improvement in profitability compared to previous quarters. The market is pricing in a potential move of +/- 7.6% in the 24 hours following the earnings release, indicating high expectations and potential volatility.
Month-over-Month (MoM) and Quarter-over-Quarter (QoQ) comparisons are expected to show steady growth, albeit at a more modest pace than the YoY figures. This is typical for a maturing company in a competitive industry.
Using XTRACT, we can see an ideal opportunity for long term upside and near term accumulation. A hold above Range4 $695.53 and Range3 $699.16 would suggest an upside move. Below would suggest bears are targeting $670.91
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