Netflix pierces current support - Analysis - 16-08-2018

Netflix's stock skidded past the support of 333.56, amid the dominance of the downward correctional wave in the short term, while the stock is weighed down by breaching the main upward trend line recently in the short term, recording a final loss of 3.29%, or 11.09 points, amid negative pressure from the 50-day SMA, coupled with negative signals from the Relative Strength Index. 

Therefore we expect more losses for the stock, as long as it settles below 333.56, targeting the support of 292.62.