Shorts Retreat Ahead Of Netflix Earnings

Earnings season is in well underway, and next up in the confessional is streaming leader Netflix (NFLX). The Amazon.com (AMZN) Prime rival is slated to report its fourth-quarter earnings after the closing bell today. Historically, NFLX has a grim post-earnings performance. Below we will take a closer look at how the equity has been faring on the charts of late, as well as what analysts are pricing in for the incoming report.

Looking at the stock’s chart performance, there has been much improvement over the last year. In fact, the shares have tacked on 42% in the last nine months, thanks in part to the supportive 20-week moving average. The security managed to move above this former trendline of resistance back in August, as well as the $210 level, which also moved in as a temporary mode of support.