Thoughts on $NFLX holding 75 through next earnings
Been watching $NFLX here and thinking about its trajectory into the next earnings report. Currently trading around 76.64, it's been pretty range-bound. The question in my mind is whether we see a sustained break below the 75 handle prior to the announcement.
My rough take is there's about a 60% chance it holds above 75. While the stock has seen some downside pressure today, the daily range (76.37–77.48) suggests a degree of stickiness around these levels. I'm not seeing overwhelming catalysts right now to force a decisive move lower that quickly. The market seems to be digesting existing information without any new major narratives. A drop below 75 would likely require some sector-wide weakness or a specific piece of news targeting Netflix, neither of which feels particularly imminent.
I wouldn't be so confident in it holding 75. Sentiment can shift quickly with these streaming names, especially pre-earnings. We've seen it crack lower on less.