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Netflix shares gain the most in six weeks on Friday, investors await the company’s quarterly report on earnings

NASDAQ-listed Netflix stock logged an all-time high closing price on Friday last week, as investor confidence soared ahead of the release of the companys quarterly report on earnings. The release is scheduled on January 18th.

Netflix shares registered their largest daily surge since December 6th on Friday, while also marking a second gain in the past six trading sessions. The stock went up 3.50% ($4.52) to $133.70, after climbing as high as $133.93, or the highest level ever recorded. In the week ended on January 15th the shares of the Internet television network added 2.01% to their market value compared to a week ago, which marked a second consecutive period of gains. The stock has extended its advance to 8.00% so far during the current month, following a 5.81% surge in December. For the entire 2016, Netflix shares gained 8.24%.

A number of Wall Street analysts have revised up their forecasts in regard to the stocks performance. Bryan Kraft of Deutsche Bank upgraded Netflix to “Hold” from “Sell” in a note released on Thursday, as, in his view, the company will report solid international growth data supported by strong results in Western Europe. According to Kraft, higher demand worldwide can be observed as a result of “original content (e.g. Luke Cage – Sept. 30 release, The Crown, Gilmore Girls, and Fuller House).” Kraft projects 4.35 million new subscribers globally.

There have also been more moderate opinions. “We are estimating 1.46 million net new U.S. streaming subs and 3.75 million net new international streaming subs, roughly in line with guidance”, according to a January 12th note by Mark Mahaney of RBC.

The guidance by Netflix pointed to 3.35 million international subscribers.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Netflix stock are presented as follows:

R1 – $134.01
R2 – $134.31
R3 (Range Resistance – Sell) – $134.62
R4 (Long Breakout) – $135.34
R5 (Breakout Target 1) – $136.62
R6 (Breakout Target 2) – $137.13

S1 – $133.39
S2 – $133.09
S3 (Range Support – Buy) – $132.78
S4 (Short Breakout) – $131.86
S5 (Breakout Target 1) – $130.78
S6 (Breakout Target 2) – $130.27

By using the traditional method of calculation, the weekly levels of importance for Netflix Inc (NFLX) are presented as follows:

Central Pivot Point – $132.04
R1 – $135.59
R2 – $137.47
R3 – $141.02
R4 – $144.56

S1 – $130.16
S2 – $126.61
S3 – $124.73
S4 – $122.84

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