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Netflix Crashes After Missing Its Own Subscribers Growth Target

Published 07/18/2019, 12:13 AM
Updated 07/09/2023, 06:31 AM
NFLX
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Netflix Inc Stocks

After spending most of 2019 trading between 340 and 380, Netflix (NASDAQ:NFLX) is trading under 320 after their latest earnings report. The area near 320 has major pivotal importance and I suspect there will be a war around that level tomorrow morning. The bulls will try to hold it and potentially push the stock towards NFLX’s 200-day moving average which is around 340. $340 is now very likely to act as resistance and it would be a good spot to initiate a short for a quick trade.

If $317-318 is lost, the next major area of potential support is 300.

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