Netflix tumbles on profit-taking - Analysis - 27-04-2017

Netflix' stock (NFLX) fell in the intraday levels, recording a loss of 1.31% in the last session, or 1.99 points, as traders took profits of past gains in the intraday levels, while the stock trades within an ascending price channel in the short term, with ongoing positive support from the SMA for the last 50 days period, coupled with an influx of positive signals from relative power indicators. 

Therefore we expect the stock to return higher in the coming trading, as long as the support of 147.32 holds on, targeting the resistance of 158.32.