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Netflix ( NFLX ) and Delta Air Lines ( DAL ) are among the big-name companies that undercut their 200-day moving averages Monday, following on the heels of Apple ( AAPL ). Los Gatos, Calif.-based Netflix fell 2.8% to 108.40 on the stock market today , closing above its 200-day line after falling as low as 106.02 intraday. Netflix moved above the support/resistance level last week. But shares crashed late Monday after Netflix beat Q1 earnings estimates but gave weak Q2 subscriber growth targets. The streaming video giant faces stepped-up competition with Amazon.com ( AMZN ), which is now offering its Amazon Prime Video as a stand-alone service for $8.99 per month, $1 cheaper than Netflix’s standard streaming plan. Amazon, which reports Q1 results on April 28, broke out of a cup-with-handle formation last week, rising more than 6% in the process. Amazon rose 1.5% Monday. Delta Air Lines fell below its 50- and 200-day moving lines Monday, losing 2%, while most other carriers’ stocks were little changed. The Atlanta-based airline last week reported strong Q1 earnings, boosted by cheaper jet fuel, but revenue slipped 1% as passengers paid slightly less for each mile they flew. Meanwhile, Apple stock fell 2.2%, falling further below its 200-day line after falling below that area on Friday. A research note from Pacific Crest Securities found that consumers prefer data-collecting gadgets such as Fitbit ( FIT ) opposed to more complex wearables such as the Apple Watch. Fitbit sold 21 million units last year compared to the 10 million Apple Watches sold, Pacific Crest Securities said. IBD’s Take: How does Apple stock rate? Objective analysis at IBD Stock Checkup Finally, keep an eye on social networking giant Facebook ( FB ). Facebook stock rose fractionally Monday as continues to find support at its 50-day moving average. Facebook is well above its 200-day line but has lost sight of a buy point at 117.09. Scalper1 News
Scalper1 News