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How to Trade Netflix Before and After Quarterly Earnings

On July 18, Netflix (NFLX) is scheduled to begin the parade of earnings reports for FANG stocks -- Jim Cramer's term for the tech group that includes Facebook (FB) , Amazon (AMZN) , Netflix and Google-owner Alphabet (GOOGL) . (Both Facebook and Alphabet are holdings in Cramer's Action Alerts PLUS Charitable Trust Portfolio.)

Netflix had a price gap to the downside after reporting its last earnings report on April 18 on disappointing guidance. Can this price gap be filled on July 19?

The daily chart shows how to trade the stock based upon the Fibonacci retracement levels from the all-time high of $133.27, set on Dec. 7, to the 2016 low of $79.95, set on Feb. 8.

The weekly chart shows that Netflix is poised to end this week with a positive profile. When the weekly chart is positive, the odds of a positive reaction to earnings is enhanced.

Analysts expect Netflix to earn 2 cents a share when it reports after the closing bell on July 18.

On Wednesday, investors ignored a downgrade by UBS, which reduced its price target to $130 from $141. TheStreet...


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