Netflix Plans to Expand TV Streaming

Shares of streaming giant Netflix saw a slight rise, rising 0.8%.

This came after the Wall Street Journal reported that

 Netflix plans to expand its TV streaming business.

The company also reported that it has begun discussions with Spotify

 regarding potential collaborations to expand its business,

 including TV streaming and award shows.

The company also plans to expand its live programming,

 including exclusive celebrity interviews, and expanding its short documentaries.

If these discussions are successful, we expect Netflix shares to rise.

Technically:

Netflix stock is still moving in a strong uptrend.

Netflix stock is trading near the 1293 level.

The current corrective movement may extend to support areas,

located near the 1216 level.

From there, we may see a return to the upside.

However, if the support areas are broken, the stock will face

other areas near the 1133 level, which is considered

one of the most important buying areas currently for the stock.

From there, a return to the upside is expected

to the targets indicated at the 1261 and 1330 levels.