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CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs and spread bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Asset Watch
Wednesday, October 25 2022, 11:20am GMT
Source: TradingView
Netflix sunk by more than 30% after reporting poor first-quarter earnings on Apr. 19. However, the after-hours sell-off created a large gap that has yet to be filled. So, if Netflix maintains its bullish momentum, next-level resistance of $329 is near the March and pre-gap intraday lows, and a realisation implies a nearly 14% upside.
On the other hand, a concern for Netflix is its daily RSI near 70 signals overbought conditions. While the uptrend can continue, a cooling-off period may be needed.
Is it wise to wait for a pullback to the 200-day MA ($278.21) or will Netflix fill the gap near $329 without any interruptions?
Sources:
Netflix earnings:
https://www.cnbc.com/2022/10/18/netflix-nflx-earnings-q3-2022.html
Netflix shareholder letter:
https://ir.netflix.net/financials/quarterly-earnings/default.aspx
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CFDs and Spreadbets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of Retail investor accounts lose money when trading CFDs and Spread Bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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