Netflix leans on pivotal support - Analysis - 18-08-2017

Netflix's stock (NFLX) returned lower in the intraday levels, recording a loss of 2.29% in the last session, or 3.89 points, and leaning on the pivotal support of 166.09, coinciding with leaning on the support of the 50-day SMA, as the stock seeks a bottom to bounce it higher anew, with a positive divergence forming in the Stochastic indicator as shown below the attached chart. 

Therefore we expect the stock to return higher, provided the support of 166.87 holds on, targeting the resistance of 188.03.