Stock Chart Analysis NFLX

Posted by downtowntrader | 8/28/2007 11:29:00 PM | 0 comments »

Stock Chart Analysis NFLX

Netflix, Inc. (Public, NASDAQ:NFLX)

I decided to pull up a weekly chart of NFLX after looking at a pretty sad daily chart. The daily showed me that it gapped lower in late July, and had basically made back none of that move despite the markets being higher over that time. The weekly chart, shown below is even more telling. Apparently, that gap down took it under long time support, which has now become resistance. If it breaks down under this small trading range, there is a shot it could trade down to the $10-$11 area.

Good Trading,


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