Netflix Is Enjoying An Upward Trajectory — But This Chart Shows Bearish Bias Ahead Of Q1 Earnings
Portfolio Pulse from Surbhi Jain
Netflix Inc (NASDAQ:NFLX) is anticipated to report Q1 earnings with an EPS of $4.52 and revenues of $9.28 billion. Despite a year-to-date increase of 27% and a yearly rise of 84.45%, technical analysis shows mixed sentiments with a slight bearish bias ahead of the earnings. Indicators like the SMA and MACD suggest bullish momentum, while the RSI and Bollinger Bands indicate potential bearish movements. Analyst consensus rates NFLX as a Buy with a target price of $546.97, though recent assessments suggest a higher average target of $612.67, with a slight potential downside.
April 18, 2024 | 4:38 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Netflix Inc faces mixed technical analysis sentiments with a slight bearish bias ahead of its Q1 earnings, despite a strong year-to-date performance and bullish analyst ratings.
The mixed technical indicators, including bullish signals from SMAs and a bearish bias from oscillators like RSI and Bollinger Bands, create uncertainty. However, strong analyst ratings and a high year-to-date performance suggest resilience. The slight potential downside from the current price to the analysts' target indicates a cautious outlook in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100