Shares of Netflix Inc., an American entertainment company, are on a corrective trend at 230.00.
Leading analysts are positive about the corporation's new strategy of creating multiple ad-supported subscriptions. Netflix Inc. long abandoned this way of generating revenue. Still, major competitors such as Disney+ are growing rapidly, and management decided to change strategy by hiring two top advertising managers from Snap Inc.: business director Jeremi Gorman and president of advertising sales Peter Naylor.
The company's new policy will have a long-term positive impact on its financial performance, but everything is restrained as far as local trends are concerned. The Walt Disney Co. outperformed Netflix Inc., and Q3 revenue could drop to 7.85B dollars from 7.97B dollars in the previous period and earnings per share to 2.18 dollars, which is far behind 3.2 dollars a quarter earlier.
The trading instrument is moving within a global downtrend, attempting a local correction.
The technical indicators, which had been holding a buy signal for a long time, reversed: fast EMAs of the Alligator indicator are approaching the signal line, and the AO oscillator histogram has moved into the sell zone, forming the first downward bar.
Resistance levels: 250.00, 288.00. | Support levels: 205.90, 163.80.