Technical Analysis – Netflix stock shows positive signs for 2023
Netflix is releasing its earnings results later in the day and the stock is still experiencing more gains slightly below the nine-month high of 355. The MACD oscillator is stretching its bullish bias above its trigger and zero lines, while the RSI is flattening in the positive region. However, the stochastic is falling lower from the overbought territory.
If earnings surprise to the upside, the stock price could move above the nine-month peak and meet the 395 region ahead of the 457 barrier, registered in January 2022.
In the opposite scenario, a negative earnings announcement could bring the 300 round number into place, where the 20- and the 50-day simple moving averages (SMAs) also lie. More losses could take the bears until the 275 support and the 200-day SMA at 270.
All in all, Netflix stock has been in a bullish tendency since June 2022, and it started the year with a positive tone. Though, any moves beneath the 200-day SMA and the uptrend line may change the broader outlook to bearish.Latest News
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