Netflix fluctuating above the support- analysis 22-07-2016

Netflix shares ended Thursday trades lower by (-1.92 point) or (-2.18%) of the previous after facing 88.00 support level which the price was able to adjust it to 84.85 below SMAs 50 and 100 and below the resistance 95.50 after rebounding from 88.00 support, comes after a bullish trails ahead the resistance 103.80 as the highest recorded level during the previous trades.

The price failed during the previous trades to hold above the resistance 103.80 to fall again passing 95.50 level with passing the SMAs 50 and 100, to fall reaching 84.85 level.

Generally; trading below the current support 84.85 may lead the price to target the next support at 80.00, but the stability of the current support may push up the price ahead the next resistance 95.50 again.