Netflix Inc.'s stocks have been growing since the second half of June and are now around 131.00.
Currently, the quotes are supported by positive July data from the American labor market, which indicate the stability of the national economy and the possibility of maintaining customer demand for the company's services. However, the continued tightening of the US Fed's monetary policy still carries downside risks, although it may not be as strong as previously expected. According to the latest reports, the corporation continues to lose subscribers, but this does not frighten investors. According to experts, in general, this process is natural, since Netflix Inc. has already passed the stage of a rapid increase in the audience of its projects. It is especially difficult to maintain this trend now, during the exit from the pandemic and economic problems. In such conditions, the company should spend money not on attracting new users, but on retaining old ones. This provides for the expansion of the types of content offered, which the management is currently actively working on, in particular, strengthening the promotion of video games, planning to double their number by the end of this year. This line of work looks very promising and is able to ensure profit growth in the future.
Currently, the price is consolidated above the level of 225.00 (Murray [6/8]), which gives the prospect of further growth to the levels of 237.50 (Murray [7/8]), 250.00 (Murray [8/8]). The key for the "bears" is the 212.50 mark (Murray [5/8]), supported by the middle line of the Bollinger Bands, with a breakdown of which the decline can continue to the levels of 200.00 (Murray [4/8]) and 187.50 (Murray [3/8]).
Technical indicators generally allow for continued growth: the Bollinger Bands are directed upwards, the MACD histogram increases in the positive zone, the Stochastic reverses downwards, which makes it possible to decline, but its potential looks limited.
Resistance levels: 237.50, 250.00, 262.50. | Support levels: 212.50, 200.00, 187.50.