Netflix Stock Falls After Earnings Announcement

Shares of streaming giant Netflix fell on Wednesday

after the company announced its third-quarter earnings and revenue.

The stock fell 6.2% to trade near $1,241.

The company's profits amounted to approximately $11.51 billion,

while expectations were for profits of $11.53 billion.

The company reported an operating profit margin of approximately 28%,

while expectations were for an operating profit margin of approximately 32%.

As for the stock's technical analysis,

Netflix stock is moving in a strong sideways movement,

with the potential to test resistance levels at $1,269.

The identified resistance levels are currently important.

If the stock breaks and closes above them, we are expected to see a rise

for the stock, possibly reaching near $1,337

which are important levels that align with the stock's previous high.

However, so far, expectations indicate a further decline in the stock

before it resumes its upward trend.