 What is going on everybody it stops here welcome back to another video so in this video We're going to be talking about Netflix stock and whether or not I personally think it's going to recover after the massive drop that we saw After market hours yesterday after market hours when they reported their earnings So we're going to take a look at their earnings here We're going to break down the chart and we're going to pull up an article here that I do have that shows a Catalyst that talks about a catalyst that I personally think dropped Netflix stock very very heavily and a lot of other people can agree with that as well And we're also going to be taking a look at some other stocks and ETFs very quickly that I'm personally watching Right now in the middle of July and off to the rest of July in the month of 2019 or rather in the year of 2019 so if you enjoy this video feel free to go down below and hit that like button Let me know down below in the comment section What do you guys think about Netflix and consider subscribing if you do want to see further content from me? So Netflix stock guys we all know at this point They've been facing a lot of upcoming competition the streaming service market that whole segment that whole area of business It's been Netflix's pretty much predominantly ran by Netflix Of course, they've there have been other players like Hulu, but it's mostly been Netflix and that is why the stock long-term now if we'll take a look at the 20 year chart, you know This stock absolutely exploded in the year 2010 2011 2012 all the way up to that peak of 423 and notice now over the past year This stock has actually not been doing much right obviously a drop to 231 and it recovered That was an amazing amazing recovery, but just over the past year You know as we've been getting a lot of new competition coming up with Disney AT&T Apple all of these companies. They're coming out with streaming services Netflix stock has kind of been tapering off and kind of plateauing and over the past six months Specifically, you know, it's been trading between 340 and 380 really having trouble breaking out back into those highs of about $420 430 whatever it was Despite the markets really killing it and hitting all-time highs, right? You know Netflix has just been really struggling and in my opinion and you know, you know again This is a lot due to the upcoming competition over these next couple of months that the streaming service market is going to start bringing again with Apple AT&T Disney, you know, those are pretty much the main three So, you know overall that is what you know the market in my opinion the sentiment right now around Netflix Consists of and if we go to the live news very quickly to talk about their earnings yesterday Based off of what I'm seeing here on think or swim EPS beats 60 cents versus 46 cents estimate that's where that six percent beat came in that I talked about in Yesterday's video and you guys can see their sales actually missed You know, they were expected to be four point nine three billion They came in at four point two or four point nine two three billion So it was a very slight miss, but nonetheless it was a miss But this is not what ended up causing this massive stock drop Price drop in Netflix, let's go over here to my safari tab very quickly We'll talk about this very quickly Then we'll take a look at the chart break it down and then we'll talk about some other stocks and ETFs that I'm personally watching So you guys can see the headline of this article Netflix stock drops more than 10% as Earnings show huge decline in new Subscribers guys, this is what ended up tanking the stock Netflix attracts 2.7 new paying customers Almost half its forecast and nearly one-third the previous quarter's addition. Let me Resay that Netflix attracts 2.7 million new paying customers Almost half its forecast and nearly one-third the previous quarters Addition guys, so they're doing terrible right now in terms of this previous earnings report in terms of Subscribers guys you guys can see it again here reported 2.7 million yada yada yada analysts we're looking for global paid streaming subscribers additions of 5.3 million on domestic additions of 350,000 and 4.8 million Internationally guys and a lot of this in my opinion Maybe people are waiting for these new streaming services that are coming out Maybe they want not to pay 15 a month for Netflix Maybe they want to put their seven eight nine dollars to work per month in Apple and Disney to try out those You know those could be or really that could be a pretty interesting You know reason for this right and a lot of people have been saying and you guys can see it in this article right now If I do find it, but Netflix has been lacking a lot of Original content in the previous quarter and now that stranger things and what was the other one? I believe the prison show orange. I forget what it's called We could probably see it here, but a lot of these are starting to roll out in this quarter and right now Oh, here it is guys stranger things new episode of the crown the final season of orange is the new black This could end up pumping up You know new subscribers people that want to see these particular shows because they are some of the more Popular shows on Netflix so this could really end up helping Netflix in this upcoming quarter But people were saying you know analysts and people in the management were saying you know lack of the previous quarters Original content, you know, this could have really held back Netflix So that is really the reason guys at this point, you know the paid subscribers You know they pretty much cut in half That's a massive reason and then once the market saw this once people saw this what happened to the stock guys You guys saw my live reaction in yesterday's video and went from 370 at the close nearly or rather you I guess you could say 363 362 44 to be exact and it hit lows of 314 dollars guys that is quite the haircut in the matter of 30 minutes right after an earnings report That was a 14 percent haircut in Netflix's stock and you guys can see since then, you know, we've been consolidating at around 315 320 with highs at about 325 and it does seem like we're slowly Riding that 180 SMA of recovering here, but we haven't really seen a quite You know quite a drastic move in either direction again Just pretty much pure consolidation at this point for Netflix. So if we go out very quickly here Not live news. Let me go to let's say the 184-hour chart we could take a look at some quick support levels that Netflix does seem to be holding above Right now. So let me get my handy-dandy support resistance tool out Which is simply this little money sign on top of the line, right? And you guys can see if I draw one out from this particular time period and I get I bet you you can see it better On the one year one day. Let me quickly change it to that, you know You guys can see Netflix right now after the big gap down the drop is actually holding above this old level of Resistance now a new support at around 315 to about $320 you guys can see it right here This was actually back in November before the whole market collapsed pretty much down 20% and Netflix felt that as well you guys can see before that happened We top that about 320 and then we dumped all the way to about 230 and that makes this 320 level because it was a resistance at that point in time We broke out of it a couple of months later that makes this level a support right now So I think if Netflix does end up recovering, you know It needs to hold this level which it does seem like it's doing right now This is going to be the first step in Netflix's recovery holding this spot The next spot as you guys can clearly clearly see because we've actually been trading between this channel for the past couple of months Is going to be starting at $340 up to 380 we've been trading in there since the beginning of 2019 guys no joke take a look You know from 2019 January all the way till now pretty much yesterday in the middle of July 2019 That's almost seven months. You know, that's when we broke the channel and now that we're holding 320 You know now we're going to need to test this next resistance Which is 340 and then re hold that as a new support before potentially filling back up to $380 so overall now guys Netflix is a falling knife Who knows how this earnings how this negative subscriber count? Very negative subscriber count at that how that's going to affect the company here in the next couple of days Obviously only time will tell So, you know if that does end up recovering, you know, let's say this news dwindles off It doesn't really affect the stock much past this initial drop, you know Take a look at these two levels make sure we start to break back into 340 And then we can be recovering from there But as of now since we aren't above 340 yet a potential trade a bounce back trade could be from 315 320 ish back up to 340 and that is if we continue this little Recovery pattern that we've been on and if we see a sudden spike or rather There's the continuation here of higher highs and higher lows You know pretty much that we've been seeing in the pre-market session so far today on the 18th of July Which is the day after this drastic earnings report for those of you all watching this if you're watching this in the future from now So Netflix stock guys, I do think there is a potential bounce back play here But as Apple as a TNT, you know as Disney as they start to roll out their streaming services this could have additional pressure on Netflix So from my perspective on an investing perspective There's absolutely no way that I would invest in Netflix right now starting a fresh new position if I'm already in from the $100 level the 150-200 maybe I'm still holding Netflix right now But starting a fresh position, you know with this bad earnings report that we pretty much got with the bad subscriber Count and with the upcoming headwind of new subscribe or rather new competition from the ones we spoke about You know, these are just a lot of negatives right now in my opinion to start a new fresh position on Netflix and do I think Netflix is going to crumble? Absolutely not guys I think Netflix is still going to have a strong market share But the thing is guys a lot of their market share is going to start dwindling away Which does scare me a bit so Netflix stock That is one that I'm definitely watching today and honestly for the rest of this week and the rest of this month Speaking of some other ETFs that I'm watching very quickly gold At this point in time gold is actually out of resistance from the past couple of weeks right now actually from the past couple or rather the past month at about 1430 to about 1425 you can clearly see based on this trend line This is a resistance so at this point you can see gold's getting rejected We can maybe play JDS T today, which goes up whenever gold is selling off gold at this point has been rallying Pretty heavily just in the past couple of days if we go to the five day five minute You guys can see really since yesterday actually that's wrong since yesterday It's been rallying it had a massive 30-point push actually So now if it does pull back and it's already pulling back, you know, maybe we could play JDS T If it pulls back a bit more but most importantly, you know If it continues this rally and we'll really see that and confirm that if it breaks out of this green line here on the 5-day 5 minute, which is the 50 SMA, you know If it breaks out of that if the candlesticks break above that's going to be a very bullish move And from there we could actually ended up trading Jnug which goes up whenever Gold is going up so watch for that break Jnug has been very hot It's honestly cooled off a bit here in the morning because gold's pulling back So this actually has a bit of margin here. So watch for that You know crude oil right now is doing something interesting guys take a look on the 184 hour chart very very quickly here You can see this yellow line the 180 SMA This has been a spot where crude oil is actually held above in the past You can see it here back in the beginning of July and again right now It seems like we are consolidating on top of that yellow line the 180 SMA as a support yet again So the fact that crude oil has been beaten down it went from 60 down to where it is right now in the matter of a couple of days This could be a bounce back play here and we can really solidify That bounce back play we can confirm it if crude oil ends up breaking out of the 50 SMA on the 20-day 1-hour chart Which is very important why a reason why you should be looking at multiple time frames because let's say the 20-day 1-hour Let's say it breaks above the 50 SMA That's going to be a very bullish move and then if we go back to the 180 SMA at that point if that happens You know the 180 SMA is going to be showing a bounce on the 180 SMA or rather the 184 hour chart Is going to be showing a bounce on that 180 SMA and that's going to be very good And from there if we break above 58 we could fill the gap up to 60 and UWT again Which goes up whenever crude oil is going up. This is going to be one to keep an eye out for so I don't want this video To be too long guys. That's pretty much it gold and crude oil I'm watching those but most importantly this video was focused mostly on Netflix so if Netflix You know let's say Netflix keeps dropping here on a side note This could actually drop the Nasdaq right the Nasdaq's red right now. It was red You know it actually got worse when a Netflix reported their earnings yesterday And you guys might be able to see that on the five-day five minute But anyway, I'm watching Netflix and I'm watching to see how it you know affects the Nasdaq Which is a tech-heavy index so Netflix crude oil gold JNUG JDS T UWD UWT and DWT those are ones I'm watching so if you enjoy this video Feel free to go down below hit that like button. Let me know down below in the comments section What do you think about Netflix stock? I would love to know and subscribe to the channel if you haven't done so already join our discord community our Facebook group follow me on Instagram all those are linked down below. I appreciate all you guys watching I'll catch you all in the next video peace out