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Evening Stock Watch-List: July 18, 2019

Evening Stock Watch-List: July 18, 2019

July 18, 2019

Hello there! Below is your edition of this evening’s watch-list. We hope you have a great trading day tomorrow! 

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Futures At A Glance

DOW S&P 500 NASDAQ BITCOIN GOLD

-84.00 (-0.31%)

-6.75(-0.23%)

-36 (-0.46%)

+25.00 (+0.26%)

+1.00 (+0.06%)

NFLX

Just a big old massive WOW on $NFLX today. The company expected to add 5 million subscribers in Q2 and they added only 2.7 million. They also missed revenue expectations, but did beat EPS expectations. NFLX always has and always will be a growth game and that massive miss on subscribers shocked the world. The company blamed it on there increase in subscription costs, and also mentioned concern over competition in the streaming space from companies like Disney. This stock sold off on news not nearly as bad all the way down to the $230 level in December but that of course came with the help of overall markets as well. Truth is this name has been dead over the last 6 months trading in a tight range mainly between $340 and $360. Today absolutely washed out all longs that have accumulated over the last 7 months and the new overhead supply from sellers just became massive. This fell under $320 which took this into a gap fill territory which technically exists all the way down to $230 but i’m not anticipating we fill that, at least not any time soon. I expect this to find a bottom and a reasonable home ebtween $280 and $300 in the next couple of weeks. But truth is, there really just isn’t any floor. Only way I would touch this is on a massive dead cat over $330 and towards $340. Other than that i wont touch it until technicals provide a safe short entry.

EBAY

eBay, Inc. ($EBAY) is a Specialty Retail company in the Services sector. This stock gapped up in after-hours this evening after releasing an earnings beat. In summary, the company was able to increase future profit guidance as well as beat revenue at $2.69 billion. The numbers beat and raised guidance gave the stock a +5% push this evening, and I expect momentum to continue into tomorrow. I plan to day trade this over the $41.50 natural resistance level for the technical breakout, primarily in anticipation for a re-test of the $41.82 after-hours highs!

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