Netflix is scheduled to deliver earnings after the market closes on July 19. During the Q1 earnings call, $NFLX guided for 2 million net customer losses in Q2. NFLX stock could break out on any gain in customers by claymarkets stocks trading
put out a note regarding a fall-off in mobile app downloads. Schindler's data says app downloads have dropped by about 12% compared with Q1, which may mean. Still he said the Netflix bull case relies on the hitrelease keeping customers signed up. "If [the second quarter] goes well for Netflix attributable to Stranger Things, we worry it may be vastly more hit driven than prior years," Schindler said.
Then there is the Accumulation/Distribution figure. It has been gaining since May and now sits near 1.6 billion. The support trend line that began in May is sloping upward with each successive higher low, and the Moving Average Convergence Divergence indicator is also nearly the zero threshold. The 9-day moving average is also leading the 21-day average.first resistance should come at $205, and $220 sits above if bulls get lucky. In case of a bad report, support at $172 should hold.
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