“Netflix(ed)”

If Netflix is cheap or expensive we leave to others to decide.

One thing is sure, the price action today is not pretty. Personally, I am not a fan of catching falling knives, and always have huge respect for candles like the one we are seeing today.

340 is a huge support level and 370 the first big resistance from here. Should this eventually fall below 340, next big support is to be found around the 300 level. For now 340 looks to hold which is the 100 day average and the lows in the steep uptrend since January.

Source: chart by Bloomberg