Netflix is an American subscription streaming service and production company. Launched on August 29, 1997, it offers a film and television series library through distribution deals as well as its own productions.
Netflix Stock Quote –
Stock Price : $ 215.52
Market Cap : $ 95.75Bn
PE Ratio : 19.17
EPS : 11.24
52 Week Range : $ 210.05 – $ 700.99
Why did Netflix stock drop –
After announcing disappointing results, Netflix’s market cap dropped by more than $50Bn. It lost subscribers for the first time in more than 10 years. Now it is the worst-performing stock in 2022. Netflix’s market cap has dropped below $100Bn.
- In the first quarter, Netflix announced that they had lost 200,000 subscribers and expect to lose more in the second quarter.
- Rising price of subscription plans.
- High competition in the streaming battle.
- Fear of the company’s long-term growth potential.
- Lifting of pandemic restrictions.
- Pulling out from the Russian market.
- Sharing subscription passwords.
Netflix Stock Technical Analysis –
We will use the top-down approach for technical analysis.
1. Monthly Chart –
The above monthly chart shows that the price is dropping sharply, and the fall is huge and strong. We will discuss the Netflix stock quote with the help of this chart. As we can see there are two support levels are seen in the chart, the first support level is at 163.95 – 206.80, and the next support level is seen at 80.42 – 112.02 on monthly basis. Also, there is a resistance of 328.16 – 397.87 on monthly basis. The fall is huge and strong and it is very difficult for the price to hold these levels.
2. Weekly Chart –
The above chart shows that support and resistance levels are getting narrow as compared to the monthly chart. We will discuss the Netflix stock quote. The first support levels are 178.34 – 195.59 and the second next levels are 145.18 – 162.61. The resistance levels are 338.99 – 397.87.
3. Daily Chart –
The above daily chart shows the price has broken the falling triangle pattern and now it is moving the downtrend.
In this way, we have discussed Netflix stock quotes with technical analysis using a top-down approach.