Netflix nears current support - Analysis - 11-08-2017

Netflix's stock (NFLX) fell in the intraday levels, recording a new loss of 3.78% in the last session, or 6.64 points, while nearing the important support of 166.87, coinciding with leaning on the support of the 50-day SMA, noting that relative power indicators reached extremely oversold levels compared to the stock's movement, while trading alongside the main upward medium-term trend line. 

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