Netflix, Tesla Tumble Post Earnings: What's Next?
Tim Knight | Jul 21, 2023 12:58AM ET
We’re now in the thick of the earnings season, so let’s take a look at four big announcements last night.
The big boy was Tesla (NASDAQ:TSLA), which on the heels of the data went absolutely nowhere at all, but subsequently, through the evening, took a tumble. The Fibonacci level of 294.30 provided resistance, and at this point the next meaningful support is at 260.67.
Netflix (NASDAQ:NFLX) got hit harder, falling about 7.5% as of this writing and has been hammered back to its midline of its multi year channel.
IBM (NYSE:IBM) is strong, up about 4%, and about $10 below its lifetime high set (somewhat oddly) last December.
Lastly, Discover has dropped about 16% from yesterday’s peak.
I’m holding steady with my little crew of 8 positions, all of them 1/19/2024 puts that are deeply in the money. It seems like science fiction that the quotes could actually be down, all things considered.
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