The FANG stocks rose after the FOMC announcement, with Netflix (NFLX) pushing into overhead resistance. AAPL, AMZN, FB, and GOOGL performed similarly, breaking to new intraday highs after the FED news.
Amazon (+2.01%) and Google (+1.99%) finished close to the highs of the day, nearly forming Marubozu candles themselves, while Apple faded more than most, closing (-1.50) from its intraday high of 189.49. That said, Citi raised its target on Apple to $220 from $170 this morning. All of these stocks closed positive on the session.
NFLX Daily
Netflix (NFLX) traded very well yesterday, nearly forming a Marubozu candle. Price action rose non-stop during the regular session. Overhead resistance impeded at close at the high of the day. Nevertheless, RSI is above 50, MACD is forming a bullish cross and all of this is under the guise of above-average volume.
Netflix (NFLX) reported 4th Quarter December 2018 earnings of $0.30 per share on revenue of $4.2 billion. The consensus earnings estimate was $0.24 per share on revenue of $4.2 billion. The Earnings Whisper number was $0.26 per share. Revenue grew 27.4% on a year-over-year basis.
The company said in its shareholder’s letter it expects first-quarter earnings of approximately $0.56 per share on revenue of approximately $4.494 billion. The current consensus earnings estimate is $0.83 per share on revenue of $4.55 billion for the quarter ending March 31, 2019. Earningswhispers
Futures are red this morning, improving as we near the opening bell so we will wait for the opening range for any potential trade on NFLX.
Join us today in the trading room for our LIVESTREAM broadcast during market hours, as we trade NFLX and other new FANG positions. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.
Happy Trading,
Vinny
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