'Trading Nation' Traders Share Thoughts On Netflix Going Into Earnings
Matt Maley of Miller Tabak, and Mark Tepper of Strategic Wealth Partners spoke on CNBC's "Trading Nation," about Netflix Inc (NASDAQ: NFLX), which is due to report earnings Tuesday after the bell.
Tepper thinks it's all about the churn. He said winter is coming and COVID-19 is flaring back up and streaming is not losing any momentum for the foreseeable future. Whenever Netflix had a bad quarter in the past, it was because of churn, said Tepper. He believes nobody is cancelling Netflix subscription right now and the company's pricing power is getting stronger, which is good for the stock.
Maley sees important resistance at $550. If the stock manages to trade above it in a meaningful way, it would be very bullish, believes Maley. He is also watching a support level at $510. The break above the resistance or below support could lead to a very big move in Netflix, thinks Maley.
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