Resistance

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>Netflix stock price slumped more than 6% in the last three intraday sessions.</a></li>
 <li><span>2</span> <a>Netflix share (NASDAQ: NFLX) price failed to sustain above the 200-day EMA and slid lower after a short pullback.&nbsp;&nbsp;</a></li>
 <li><span>3</span> <a>Netflix Inc. is yet to announce its third quarterly results on Wednesday, 18th October.&nbsp;</a></li>
</ul>
<p>Netflix Inc. stock price witnessed selling pressure after it failed to break above the $450 level in the first week of September. Since then, the NFLX stock price has been in a short-term declining trend and has slipped below the 50-day EMA. Recently, the stock price tried to hold near the 200-day EMA but heavy selling pressure from the upper levels could not hold more and the NFLX stock price declined.&nbsp;</p>
<p>The price trend analysis illustrates that the NFLX stock price persisted in a long-term bullish trend in the last three quarters and maintained above the key EMAs most of the time. The stock price is currently nearing a round level of $350 which may act as a major support and the price may gather some buyers soon.<br><br>Moreover, Netflix Inc. is yet to announce quarterly results on Wednesday, 18th October, which might affect the price trend. The pre-results sentiments are pessimistic as the stock price has slipped lower. The Wall Street analysts are expecting a revenue of $8.5 Billion and expecting the earnings to be $3.48 Billion.<br><br>The price prediction as per the analysts states that the NFLX stock persists in a long-term bullishness. It is currently experiencing a short-term correction. The short-term trend needs to align with the long-term trend to resume the trend.&nbsp;</p>
<p>Talking precisely about the levels, the breakout above the $386 may tilt the short-term trends in the bulls’ favor and the stock price may show hikes to break above the $400 level. On the other hand, the breakdown below the $350 level may trigger a long unwinding and the price might show a sharp decline to the lower support levels.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1452" height="777" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-395.png" alt="Netflix Stock Loses Before Earnings: Outlook For Post Earnings?" class="wp-image-175487" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-395.png 1452w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-395-300x161.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-395-1024x548.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-395-768x411.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-395-750x401.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-395-1140x610.png 1140w" sizes="(max-width: 1452px) 100vw, 1452px">
  <figcaption class="wp-element-caption">
   Source: barchart.com
  </figcaption>
 </figure>
</div>
<p><a href="https://www.thecoinrepublic.com/2023/09/22/netflix-stock-price-below-400-correction-began-in-nflx-stock/" rel="noopener noreferrer nofollow">Netflix stock</a> derivatives data analysis states that the current implied volatility in the market is 48.81% with an increment of 0.59% in the last trading session. The at-the-money strike price has 2,686 open contracts on the PUT side and 3,68 open contracts on the CALL side indicating the dominance of bulls at the CMP.&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-netflix-stock-price-forecast-for-2023-strong"><strong>Netflix Stock Price Forecast For 2023</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1496" height="732" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-393.png" alt="Netflix Stock Loses Before Earnings: Outlook For Post Earnings?" class="wp-image-175485" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-393.png 1496w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-393-300x147.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-393-1024x501.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-393-768x376.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-393-750x367.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-393-1140x558.png 1140w" sizes="(max-width: 1496px) 100vw, 1496px">
  <figcaption class="wp-element-caption">
   Source: NFLX 1D. NASDAQ By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The average analyst price target for Netflix stock in 2023 is $455.5, which represents a potential upside of 26.11% from the current price. However, there is a wide range of analyst price targets between $325 to $600.</p>
<p>The most optimistic analysts believe that Netflix stock could reach $600 in 2023 if the global entertainment and gaming industry grows strongly and Netflix is able to successfully launch new shows, movies, and features that appeal to the viewers.</p>
<h3 class="wp-block-heading" id="strong-technical-indicators-signal-weakness-in-short-term-strong"><strong>Technical Indicators Signal Weakness in Short-Term</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1600" height="747" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-394.png" alt="Netflix Stock Loses Before Earnings: Outlook For Post Earnings?" class="wp-image-175486" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-394.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-394-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-394-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-394-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-394-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-394-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-394-1140x532.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: NFLX 1D. NASDAQ By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The overall technical indicators including RSI and MACD opinion rating for the <a href="https://www.thecoinrepublic.com/2023/09/22/netflix-stock-price-below-400-correction-began-in-nflx-stock/" target="_blank" rel="noopener noreferrer nofollow">NFLX stock</a> is a 40% “sell” with a strengthening short-term outlook on maintaining the current trend.&nbsp;&nbsp;</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Netflix stock price is in a long-term bullish trend but is facing a short-term correction now. The price is near a key support level of $350 and may bounce back if the quarterly results are positive.&nbsp;</p>
<p>The results are expected on October 18th and the analysts are forecasting a revenue of $8.5 Billion and earnings of $3.48 Billion. The average analyst price target for 2023 is $455.5, which implies a 26.11% upside potential. However, some analysts are more optimistic and predict a price of $600.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $355.65 and $333.18</li>
 <li><strong>Resistance Levels:</strong> $386.87 and $415.50</li>
</ul>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Netflix Stock Loses Before Earnings: Outlook For Post Earnings?

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