Watch These Key Netflix Price Levels as Stock Drops After Disappointing Earnings
Key Takeaways
- Netflix shares tumbled in premarket trading Wednesday after the streaming giant’s third-quarter earnings came in short of Wall Street expectations, with the company citing a charge related to a tax issue in Brazil.
- The stock price looks set to tumble toward the lower trendline of a descending triangle.
- Investors should watch key support levels on the Netflix chart around $1,065 and $942, while also monitoring critical overhead areas near $1,265 and $1,341.
Netflix (NFLX) shares tumbled in premarket trading Wednesday after the streaming giant ‘s third-quarter earnings came in short of Wall Street expectations.
The company posted earnings per share of $5.87, compared with the $6.92 EPS that analysts tracked by Visible…
