$NFLX Q2 Earnings: A Massive Technical Pivot


Today brings the highly anticipated Netflix earnings report, and looking at the Daily chart, we are sitting at a crucial level.
Market expectations are set at an EPS of $0.79 and revenues around $12.58 billion, marking a solid 13.8% year-over-year growth.
Investors will also be heavily focused on the advertising revenue, which is projected to roughly double this year to hit the $3 billion mark.
The technical structure has been strictly bearish since the $140 top.
After a downside BOS, the price is hovering around $74, heavily testing the major $69.42 support.
If the numbers disappoint and we lose this level, it is a straight drop into the $45 to $55 demand zone.
Conversely, an earnings beat could fuel a strong technical bounce to defend this support.
What are your thoughts on how Netflix will close today?
NFLX0.65%
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