Daily Market Report by GulfBrokers 2020-2021

[syamfx2020]

Shares of the social media firm Pinterest (NYSE: PINS) gained more than 10% in after-hours trading on Thursday after the company reported earnings and revenue for the third quarter that easily topped analysts' forecasts. During the third quarter, its global monthly active users increased 2.8% sequentially to 445 million, above estimates of 437.4 million while U.S. and Canada monthly active users declined 2%.

• Earnings per share: $0.11 vs. $0.05 expected
• Revenue: $685 million vs. $665 million expected

EQUITIES

US futures extended the losses on Friday morning driven by disappointing earnings results from the big tech giants. Shares of the Amazon (NASDAQ: AMZN) sank more than 20% after the firm Q3 revenue came well below Street estimates. Amazon's revenue for the quarter totalled $127.1 billion against the expectation of $127.76 billion.

On the earnings front, Chevron and ExxonMobil are amongst those reporting the last quarter's financial results today.

OIL

Crude oil futures slightly reversed from the previous session's gains after the king dollar regained the upside momentum. However, the overall momentum remained bullish in the last few sessions after the US exported a record amount of crude and fuel last week, with total petroleum shipments reaching 11.4 million barrels a day

CURRENCIES

In the currency market, the US Dollar Index measures the greenback’s value against the basket of six major currencies following the latest data showing the US GDP rebounded in the third quarter. Meanwhile, the EURUSD retreats back to below 0.9950 on Friday morning after ECB president Christine Lagarde warned a eurozone recession was looming. "The likelihood of recession is looming much more on the horizon," Lagarde said.

GOLD

The precious metal is struggling to regain upside momentum following the release of better-than-expected US GDP data. Moving ahead to the North American session, the gold traders should closely monitor the release of the US personal income and spending data.

Economic Outlook

On the data front, US GDP grew in the third quarter after having shrunk in the first half of 2022. The US economy grew at a better-than-expected 2.6 per cent annual rate from July through September, compared to the market expectation of 2.4%.

Moving ahead today, the important events to watch:

US – Personal spending and income: GMT – 12.30

US – Michigan consumer sentiment: GMT – 14.00

US – Pending home sales: GMT – 14.00

Coronavirus update:

Worldwide, more than 627 million people have been confirmed infected and more than 6.51 million have died. The United States has confirmed over 97 million cases and has had more than 1.06 million deaths from COVID-19, the highest total in the world.

Technical Outlook and Review

EURUSD: For today, the pair is supported at the 0.9910/00 level, any break below this level will open the doors to 0.9860/50. On the flip side, if the euro breaks above 1.0000 it would open doors towards the next resistance area of 1.0050/80.

The important levels to watch for today: Support- 0.9900 and 0.9850 Resistance- 1.0000 and 1.0050.

GOLD: For today the key support remains below the previous session low of $1640/38. On the flip side, the immediate resistance is located above $1666, a break above this level will confirm a possible move to $1672/80.

The important levels to watch for today: Support- 1645 and 1638 Resistance- 1666 and 1675.

Quote of the day - In the long run, it's not just how much money you make that will determine your future prosperity. It's how much of that money you put to work by saving it and investing it - Peter Lynch.

Read more - https://gulfbrokers.com/en/daily-market-report-571

 

[syamfx2020]

This week all eyes will be on the US Federal Reserve's latest interest rate decision. The most awaited FED decision tends to lead to significant moves for currencies, commodities, and Indices. The Federal Open Market Committee is set to hold their two-day policy-setting meeting on Tuesday and Wednesday, after which they will release their monetary policy statement and hold a press conference with Federal Reserve Chair Jerome Powell. On the other hand, the Investors will also likely keep a look at the economic releases which include the release of the US employment report and ISM PMI.

On the earnings front, the companies scheduled to release their last quarter financial results this week will be Moderna, Uber, Airbnb, AMD, Etsy and Coinbase.

GOLD

The precious metal remains under pressure and started the new week on a bearish note ahead of the FED meeting, the markets are pricing in a 95% chance of another 75-basis-point hike at this week's meeting. The main drivers for the precious metal remain the geopolitical tensions, the FED outcome and the movement of the US dollar.



For this week, $1,635 is the immediate support level, followed by $1,632. If the pair breaks below the $1,632, the slump will quickly extend toward the $1620/12 mark. On the upper side, gold is likely to find immediate resistance at $1,650, any break above the $1,650 level could lead the prices of the precious metal towards the next resistance levels of $1,666 and $1,675.

DOLLAR INDEX

The US Dollar Index, which measures the greenback’s value against the basket of six major currencies ended mixed on Friday as investors grew more cautious ahead of this week's FED meeting. However, the overall momentum remained bearish for the last week on speculation that the Federal Reserve would slow the pace of interest rate hikes later this year. This week, USD traders should also monitor the release of US NFP data and FOMC decision.



The Index can regain strong upside momentum again if it rebounds back to above the 111.80 level, any break and closes above this level the next levels to watch are 112.20 and 112.50. Nevertheless, if it continues to fall, the slump will quickly extend toward the 110 and 109.30 marks.

EURUSD

The currency pair opens flat for the week after pair failed to close above the 1.0000 area on Friday pressured by last week’s dovish comments from European Central Bank (ECB) President Lagarde. The ECB is expected to announce a further rate hike in December as it continues efforts to rein in inflation which remains at almost 10%. A few key factors the Euro traders should monitor this week are the Eurozone GDP and the German employment report.



For Euro, the first nearest support level is located at 0.9920. In case it breaks below this level, it will head towards the next support level which is located at near 0.9880 then 0.9850. On the upper side, 1.1000 will act as an immediate and strong hurdle while 1.1050 will be a critical resistance zone because above this, bulls are likely to dominate.

DOW JONES

Dow Jones and other key US indices ends on a strong note last week despite the release of weaker-than-expected big tech's third-quarter earnings results. The upside momentum was boosted by a strong rebound in U.S. gross domestic product (GDP) in the third quarter. Moving ahead to this week, the Dow traders should continue to focus on the Q3 earnings results and the US employment report.



This week, the immediate resistance for Dow near $33,500 break this and close above this resistance level then expects the market to zoom up to $34,000 and $34,200. On the other hand, if it breaks below the $32,700 level, will open the doors to $32,400 and $32,000 levels.

Read more of the detailed analysis here with chart - https://gulfbrokers.com/en/weekly-review-gold-usd-eurusd-and-dow-jones-53

 

[syamfx2020]

The cloud communications software company Twilio stock (NYSE: TWLO) has declined by almost 85% in 2022 and the stock hits a fresh 52-week low of $62 this month. However, the stock slightly recovered from the fresh 52-week lows.

The company will be in focus this week as it publishes its third-quarter financial results on Thursday, November 03, after the markets close. The company is expected to post a loss of $0.39 per share and revenues are expected to be $973 million.

In the second quarter, Twilio posted better-than-expected financial results. The company generated revenue of $943 million, which was above analysts’ expectations of $922 million. While the investors were not happy with the results because the cloud-based communications management platform announced weaker guidance for the next three months.

$TWLO technical forecast

The daily chart shows that the stock price slightly rebounded in the past few weeks, but the overall momentum remains bearish. $TWLO has a 52-week low of $62.10 and a 52-week high of $317. In the short term, the first resistance is located around $82, a break above this level will confirm a possible move to $100. On the downside, $68 is the immediate support level, followed by $62 (52-weeks low). If the stock breaks below $62, the slump will quickly extend toward the $50 mark.

In the long term, watch for the weekly close above $100, close above $100 is likely to push the stock into a new trading zone, which may offer further buying opportunities until $130/38.

Read more here - https://gulfbrokers.com/en/stock-to-watch-this-week-twlo

 

[syamfx2020]

Shares of the ride-hailing company (NYSE: UBER) trades more than 2% higher in pre-market trading on Tuesday ahead of its third-quarter report, which is set to be released before the bell. Uber is expected to post a loss of 18 cents a share and revenues are expected to be $8.12 billion. During the second quarter, Uber's revenue came in at $8.07 billion and its loss per share came in at $1.33.

$UBER technical outlook

In the short term, technically the first nearest support level is located at $23. In case it breaks below this level, it will head towards the next support level which is located at near $20. On the upper side, Uber is likely to find immediate resistance at $29/30, if the bulls manage to push the price to break above the $30 resistance level, the next target will be at $34 then $38.

EQUITIES

US futures trade flat on a daily basis as investors remained cautious ahead of the highly anticipated US FED decision on Wednesday. Moving ahead to the North American session, the USD traders should closely monitor the release of US ISM PMI figures for October, which is set to be released at 14.00 GMT.

OIL

Crude oil futures extended the gains after OPEC raised its medium to long-term demand forecasts and said it stood ready to help stabilize prices if markets required it. Both WTI and Brent oil prices reversed its direction following a two-day decline, the focus shifted to the API's oil inventory data.

CURRENCIES

In the currency market, Euro managed to regain some recent losses on Tuesday Morning. As of this writing, the currency pair trades above 0.9930. The currency pair traded with a strong bearish sentiment on Monday, largely due to a broad strengthening in the US dollar. Meanwhile, the Australian dollar rebounded after RBA signaled further tightening as it balances efforts to bring down inflation.

GOLD

The safe-haven metal rebounded from the previous session lows. On Monday, the metal hits a fresh weekly low of $1630 weighed down by the strong US dollar. For today, the main drivers for the metal remain the US dollar and bond yields movement, and the ISM manufacturing PMI data.

Economic Outlook

On the data front, the Reserve Bank of Australia decided to increase the cash rate target by 25 basis points to 2.85 per cent. “The dimensions and timing of future rate of interest will increase will proceed to be decided by the incoming information and the board’s evaluation of the outlook for inflation and the labour market” – RBA Governor Philip Lowe said.

Moving ahead today, the important events to watch:

US – Manufacturing PMI: GMT – 13.45

US – ISM manufacturing PMI: GMT – 14.00

US – JOLTs job openings: GMT – 14.00

Coronavirus update:

Worldwide, more than 630 million people have been confirmed infected and more than 6.51 million have died. The United States has confirmed over 97 million cases and has had more than 1.07 million deaths from COVID-19, the highest total in the world.

Technical Outlook and Review

EURUSD: The currency pair trading above the 0.9930 area during the European session, if the bullish momentum continues the next upside levels to watch the 0.9970 and 1.0000 zone. On the flip side, the immediate support is at 0.9900.



The important levels to watch for today: Support- 0.9900 and 0.9860 Resistance- 0.9970 and 1.0000.

GOLD: For today, the first resistance is located around $1650, a break above this level will confirm a possible move to $1660/66. On the downside, if the metal loses the $1630 handle, we expect a move toward $1620/18.



The important levels to watch for today: Support- 1635 and 1630 Resistance- 1650 and 1658.

Quote of the day - My experience with novice traders is that they trade three to five times too big. They are taking 5 to 10 percent risks on a trade when they should be taking 1 to 2 percent risks - Bruce Kovner.

Read more - https://gulfbrokers.com/en/daily-market-report-572

 

[syamfx2020]

Global markets volatility remains elevated ahead of the Fed decision. The FED is expected to hike its benchmark interest rate by 75 basis points for the fourth consecutive time. The FED Monetary Policy Statement is set to be released at 18.00 GMT. Along with this release will see the FED chair Jerome Powell Conference 30-minutes after at 18:30. The meeting outcome and especially FED chair Powell’s comments could bring extra volatility to the global markets after recent suggestions from Fed officials of a potential slowdown in the tightening pace.

EQUITIES

US stock futures remain under pressure as investors awaited a closely watched interest rate decision by the Federal Reserve. On the other hand, investors should also closely monitor the ongoing third-quarter earnings season, some of the largest US companies will report their latest quarterly numbers today including Qualcomm, CVS Health, Roku, and Etsy.

OIL

Crude oil futures held the previous session gains despite the strong US dollar supported by the surprise crude inventory draw. The latest API inventory data showed that US crude stocks declined by about 6.5 million barrels last week, compared with estimates for a rise of 267,000 barrels.

CURRENCIES

In the currency market, the New Zealand dollar remains the strongest currency pair of the week. The recent bullish sentiment was boosted by hawkish comments from the Reserve Bank of New Zealand Governor Adrian Orr and a robust employment report. “New Zealand is relatively well positioned but inflation is still too high in an absolute sense and the country's financial system remains well placed to support the economy” - Adrian Orr said.

GOLD

The safe-haven metal recovered back to above $1650 on Wednesday morning. Considering the recent rebound gold investors should closely monitor the comments from the FED chair Powell later in the day. On Tuesday, the metal failed to extend the gains following the release of the most awaited US ISM manufacturing PMI report.

Economic Outlook

On the data front, the US manufacturing purchasing managers' index (PMI), prepared by the Institute for Supply Management (ISM), dropped from 50.9 in September to 50.2 in October. However, the data came higher than expected.

Moving ahead today, the important events to watch:

US – ADP employment report: GMT – 12.15

US – EIA crude inventories: GMT – 14.30

US – FOMC interest rate decision: GMT – 18.00

Coronavirus update:

Worldwide, more than 630 million people have been confirmed infected and more than 6.51 million have died. The United States has confirmed over 97 million cases and has had more than 1.07 million deaths from COVID-19, the highest total in the world.

Technical Outlook and Review

EURUSD: For today, the first nearest support level is located at 0.9850. In case it breaks below this level, it will head towards the next support level which is located near 0.9800. On the upper side, 0.9910 will act as an immediate and strong hurdle while 0.9950 will be a critical resistance zone because above this, bulls are likely to dominate.



The important levels to watch for today: Support- 0.9850 and 0.9800 Resistance- 0.9910 and 0.9950.

GOLD: For today, the key resistance is located around $1662, a break above this level will confirm a possible move to $1675/80. On the downside, any meaningful pullback now seems to find some support near the $1630 zones, below which the slide could further get extended towards the $1620/18 region.



The important levels to watch for today: Support- 1642 and 1630 Resistance- 1662 and 1675.

Quote of the day - “People don’t like the idea of thinking long term. Many are desperately seeking short term answers because they have money problems to be solved today.” Robert Kiyosaki.

Read more - https://gulfbrokers.com/en/daily-market-report-573

 

[JimmyRozza]

Thank you, will take a closer look

 

[syamfx2020]

The U.S. drugmaker Pfizer (NYSE: PFE) handily beat Wall Street estimates on revenue and earnings per share in its third-quarter report Tuesday and the company also raised its 2022 earnings guidance. The upbeat Q3 results are supported by the continuing demand for its Covid vaccine and antiviral therapy. The vaccine maker reported third-quarter revenue of $22.6 billion and earnings per share of 1.78 cents.

Pfizer raised full-year estimates for sales of its Covid-19 vaccine by $2 billion to $34 billion and reaffirmed its forecast for $22 billion in sales of the antiviral Paxlovid. One-third of the company’s revenue came from the antiviral pill Paxlovid, which is given in a five-day course to patients quickly after the onset of COVID-19 symptoms.

On the other hand, Pfizer announced the company’s maternal RSV vaccine, a maternal vaccine given to pregnant people would pass on antibodies to babies before delivery, protecting infants from developing severe symptoms during the first six months after birth.

“With regard to our Covid-19 products, while their sales may fall from our expected 2022 levels, we believe our Covid-19 franchises will remain multibillion-dollar revenue generators for the foreseeable future, which should serve as a buffer for any unforeseen challenges with other products in our portfolio.” – Pfizer CEO Albert Bourla said.
$PFE technical outlook
Pfizer shares rose more than 3% after the earnings announcement on Tuesday but the stock is down almost 20% this year. In the short term, if the stock breaks above $50, then the next short-term resistance is located in the area of 52, a break above $52 will confirm a possible move to $53.70 and $56. On the downside, the first nearest support level is located at $46.50. In case it breaks below this level, it will head towards the next support level which is located at nearly $45 then $43.50.

Read the detailed report here - https://gulfbrokers.com/en/pfizer-3q-results-beat-wall-street-estimates

 

[syamfx2020]

Shares of top cryptocurrency exchange Coinbase Global (NASDAQ: COIN) ended more than 4% lower on Wednesday. $COIN has declined by almost 70% year to date this year and remains down by almost 80% from all-time highs.

The cryptocurrency-trading platform is set to report financial results for the third quarter today after the market close. The company is expected to post a loss of $2.37 per share and revenues are expected to be $646 million.

$COIN short-term technical outlook

Technically the overall momentum remains bearish. On the downside, $50/51 is the crucial support area to watch. If the stock breaks below this area, the slump will quickly extend toward the $46/41 mark. On the flip side, $83/84 will act as key resistance, and a break above this level could open up a buying trend until $112/15.

EQUITIES

US stock futures extended the losses on Thursday morning driven by hawkish comments from the FED chair Jerome Powell. Fed chair Powell signaled that it was “very premature” to consider pausing rate increases as rates could peak at higher levels than previously thought. "We have some ground to cover with interest rates before we get to that level that we think is sufficiently restrictive." – Powell said.

OIL

Crude oil futures reversed from the previous session highs on pressure from the strong dollar and expectations for more interest rate hikes by major central banks. While on Wednesday, the oil prices rose to fresh weekly highs after the latest EIA report showed that US crude stocks fell by about 3.1 million barrels last week.

CURRENCIES

In the currency market, the dollar strengthened on Thursday while the GBP slipped ahead of a Bank of England interest rate decision. As of this writing, the GBPUSD trades below 1.1260. The BOE is widely expected to raise its key interest rate by 0.75 percentage points to 3 per cent. It will be the eighth consecutive jump in interest rates by the Bank but will represent the biggest increase since 1989.

GOLD

The safe-haven metal slipped on Thursday after the US Federal Reserve maintained an aggressive policy stance to tackle soaring inflation. On Wednesday, Fed Chair Jerome Powell indicated a more hawkish stance than markets anticipated.

Economic Outlook

On the data front, United States Federal Reserve officials delivered their fourth straight 75 basis-point interest rate increase and this rate hike marks the central bank’s sixth consecutive increase just this year. Meanwhile, the central bank suggested that it might soon shift to a more deliberate pace of rate increases.

Moving ahead today, the important events to watch:

US – BOE interest rate decision and statement: GMT – 12.00

US – Jobless claims: GMT – 12.30

US – ISM services PMI: GMT – 14.00

Coronavirus update:

Worldwide, more than 630 million people have been confirmed infected and more than 6.51 million have died. The United States has confirmed over 97 million cases and has had more than 1.07 million deaths from COVID-19, the highest total in the world.

Technical Outlook and Review

EURUSD: Technically the overall trend still looks bearish, and the next immediate support is 0.9750 then 0.9700. On the upper side, 0.9810 is the key resistance zones to watch for today, if the pair breaks and closes above this area then the next supply level to watch is around 0.9850 and 0.9900.



The important levels to watch for today: Support- 0.9750 and 0.9710 Resistance- 0.9810 and 0.9850.

GOLD: The precious metal remains under pressure a clear breakdown of the support at $1620 could open space for further declines while only recovery to $1,644 would reverse the short-term negative trend.



The important levels to watch for today: Support- 1620 and 1614 Resistance- 1636 and 1644.

Quote of the day - "To win in the markets, we need to master three essential components of trading: Sound psychology, a logical trading system, and an effective risk management plan.”

Read more here - https://gulfbrokers.com/en/daily-market-report-574

 

[syamfx2020]

Commodities and precious metals finished in positive territory on Friday while US equities ended mixed following the release of the most awaited US employment report. Data showed that U.S. nonfarm payrolls did beat expectations, increasing by 261,000 jobs last month compared to the expectation of 200k. But the unemployment rate rose to 3.7% from 3.5%.

As we are heading to a new week traders and investors are likely to monitor the latest US inflation report which is set to be released on Thursday that will offer a crucial guide to the interest rate outlook.

On the earnings front, the companies scheduled to release their last quarter financial results this week will be Walt Disney, Nio, Poshmark, AMD, Rivian and Roblox.

GOLD

The precious metal rose on Friday helped by a dip in the dollar. The metal fell to near the lowest level since March 2020 around $1615 earlier in the week before strongly rebounding higher due to the expectations of more interest rate hikes capped further gains as U.S. Federal Reserve Chair Jerome Powell reiterated the central bank's commitment to tame inflation. The US inflation numbers will set the tone for the gold price this week, as it will offer fresh cues on the Fed’s next policy move and any speakers from the Fed will also be closely watched.



This week, the first resistance is around $1695, a break above this level will confirm a possible move to $1708/20. On the downside, any meaningful pullback now seems to find some support near the $1660 zones, below which the slide could further get extended towards the 33,000 and $1640/35 regions.

DOLLAR INDEX

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies experienced a sharp slide in the previous session weighed down by what analysts viewed as a mixed U.S. nonfarm payrolls report for October. This week, dollar traders will now turn their attention to the latest US inflation data.



From a technical perspective, The 110.40 area of confluence has recently been held as a firm support, failure to defend the mentioned support levels has the potential to drag the pair further towards the 110 and 109.50 support zone. On the upper side, in case the pair manages to settle above 111.80, it will regain upside momentum and head towards the next resistance level at 112.50 and 113.

EURUSD

EURUSD recovered back to above 0.9950 supported by the recent improvement in risk sentiment and a softer dollar. The single currency has been largely supported in recent weeks by expectations the European Central Bank will continue with rate hikes after the latest CPI data showed Euro Zone inflation came in hotter than expected at 10.7%. For Euro this week, the economic data is limited to the Eurozone retail sales and German inflation figures.



For this week, 1.0000 remains the key resistance to watch. However, as long as the currency pair is trading above 0.9910, a pullback rally is likely to continue up to 1.0050/70. On the downside, the first nearest support level is located at 0.9910. In case it breaks below this level, it will head towards the next support level which is located near 0.9860/30.

DOW JONES

Dow Jones and other US indices ended flat on Friday after the release of mixed U.S. economic reports, as investors turned their attention to this week's U.S. inflation data. One of the critical factors the Dow traders should monitor this week is the latest US inflation figures on Thursday.



For this week, 32,000 is the immediate support level, followed by 31,600. If the pair breaks below 31,600, the slump will quickly extend toward the 31,200/000 mark. On the flip side, the bullish breakout of 33,100 is likely to push the index into a new trading zone, which may offer further buying opportunities until 33,500/600.

Trading is risky and your entire investment may be at risk. Please ensure that you fully understand the risks involved.

Read more with the charts here - https://gulfbrokers.com/en/weekly-review-gold-usd-eurusd-and-dow-jones-54

 

[syamfx2020]

Shares of the world’s two largest streaming entertainment giants, Netflix (NASDAQ: NFLX) and Walt Disney Company (NYSE: DIS) were mostly under pressure in 2022. Especially, Netflix stock crashed below $200 and dropped more than 65% this year, impacted by the company's slowing growth and competition in streaming. The slump that’s wiped out roughly $70 billion of the streamer’s market capitalization.

Recently shares of Netflix recovered back to above $300 after the streaming giant announced better-than-expected third-quarter financial results. Netflix generated Q3 revenues of $7.92 billion, up 5.9% from $7.48 billion in the year-ago period.

Netflix beats Q3 estimates

Netflix returned to subscriber growth, adding 2.4 million net new paid customers, reversing a trend of multiple-quarter subscriber declines and the company provided guidance of 4.5M net subscriber additions for Q4. In the first and second quarters of this year, Netflix’s global subscriber base declined by 1.2 million.

“Thank god we’re done with shrinking quarters,” Netflix co-CEO Reed Hastings told investors during the company’s third-quarter earnings call.



Shares of Netflix bounced almost $60 since the Q3 earnings announcement and breaks above $300. But last week the stock retreats back to below $260 and closed the earnings gap.

Walt Disney's fundamental and technical outlook

Walt Disney (NYSE: DIS), here’s another media and entertainment giant stock struggling to find the upside momentum despite the company reporting upbeat financial results in the last quarters. $DIS close below $100 last week and the stock is down almost 22% this year.

Disney beats Netflix on streaming subscribers



During the third- quarter, Disney+ added 14.4 million subscribers, beating expectations of 10 million. Combined with Hulu and ESPN+, Disney had 221.1 million streaming subscribers at the end of the June quarter, compared to Netflix's 220.7 million streaming subscribers. Disney's overall revenue in Q3 climbed 26% year over year to reach $21.5 billion and earnings per share rose 36% year over year to reach $1.09.

Walt Disney Q4 earnings preview

Moving ahead, Walt Disney is scheduled to report fourth-quarter financial results after the U.S. markets close on Tuesday, November 08. The company is expected to post quarterly earnings of $0.51 per share and revenues are expected to be $21.38 billion. Investors should closely monitor the Disney+ net paid subscriber additions because recently streaming pioneer Netflix's Q3 earnings report showed, Netflix returned to positive subscriber growth.

$DIS technical forecast

In the short term, $94 remains the first immediate support level, followed by $90.20. If the stock breaks below $90, the slump will quickly extend toward the $80 mark. On the upper side, $109 remains the first immediate resistance area to watch, any break above this will open the doors to $113/16. A further recovery allows for a push toward $126 and $140 serving as additional upside targets.

Read more - https://gulfbrokers.com/en/netflix-beats-q3-estimates-will-disney-follow-the-netflix