Netflix, 'one of the great winners of all time,' looks risky ahead of earnings, warns technician

div > div.group > p:first-child"> The streaming giant is expected to announce first-quarter earnings after Tuesday's closing bell. The highly anticipated report — for which the options implied move is about 8% in either direction — comes on the heels of Disney announcing that it would launch its own streaming service in November, adding to Netflix's list of soon-to-be large-scale rivals.

"[The] action obviously has nothing to do with anything other than a big competitor joining the ring, but what's important here about Netflix is how poorly it's been acting over the past one, two, three months and more," Worth, chief market technician at Cornerstone Macro, said Friday on CNBC's "Options Action."

"What we know is it comes out of the gate and drops 72% — right out of the gate after its IPO. Advances considerably; drops 78%," he said."And we've just endured a 45% decline with the peak-to-trough drawdown when the market dropped [late last year]." Noting how many times Netflix has failed to break above its trend line, represented above in orange, Worth also highlighted exactly why the stock's tepid action in recent weeks worries him.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Stocks end mostly lower as investors look ahead to earningsU.S. stocks finished lower on Thursday as investors look ahead to the beginning of earnings season, which unofficially kicks off on Friday. The S&P 500...
Fonte: MarketWatch - 🏆 3. / 97 Consulte Mais informação »

Stock futures muted ahead of big bank earningsU.S. stock index futures were subdued on Monday as investors awaited more big ba... This is what I thought. What implied earnings are there? Cortez didn’t scare them out of the market ?
Fonte: Reuters - 🏆 2. / 97 Consulte Mais informação »

Dow futures point to a modest open ahead of earningsU.S. stock index futures were slightly higher Monday morning, as market participants awaited further earnings reports.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

Chipmakers have surged this year, but first-quarter earnings reports might really disappointSemiconductor stocks, up sharply this year on hopes for a China trade deal, could face their day of reckoning during earnings season.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

Here comes Levi Strauss' first earnings report as a public company in nearly 35 years ...Levi Strauss, which returned to the public market last month, is scheduled to report quarterly earnings on Tuesday afternoon. Private company
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »

Levi Strauss swings to profit in its first earnings release since IPOFor the first-quarter Levi reported earnings per share of 37 cents on revenue of $1.44 billion. Jeans always grow in a depression.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »