Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Netflix, Tesla Tumble Post Earnings: What's Next?

Published 07/21/2023, 12:58 AM
Updated 07/09/2023, 06:31 AM

We’re now in the thick of the earnings season, so let’s take a look at four big announcements last night.

The big boy was Tesla (NASDAQ:TSLA), which on the heels of the data went absolutely nowhere at all, but subsequently, through the evening, took a tumble. The Fibonacci level of 294.30 provided resistance, and at this point the next meaningful support is at 260.67.

Tesla Chart

Netflix (NASDAQ:NFLX) got hit harder, falling about 7.5% as of this writing and has been hammered back to its midline of its multi year channel.

Netflix Chart

IBM (NYSE:IBM) is strong, up about 4%, and about $10 below its lifetime high set (somewhat oddly) last December.

IBM Chart

Lastly, Discover has dropped about 16% from yesterday’s peak.

DFS Chart

I’m holding steady with my little crew of 8 positions, all of them 1/19/2024 puts that are deeply in the money. It seems like science fiction that the quotes could actually be down, all things considered.

QUOTES

Latest comments

stock market is so great to me
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.