Netflix, Inc. (NFLX) broke below the $100 a share level in morning trade. The weak start was quickly extended bringing first level of support into play at $98. The break below these key psychological levels could portend further technical downside for the stock. The next level to watch is at $96.81. Today’s move came on pretty good volume too, with far more shares changing hands than in a normal session. In late morning trading NFLX was changing hands for $97.81, down $3.79, or 3.73% from Friday’s close.
Netflix, Inc., currently valued at $41.81 billion, has a median Wall Street price target of $130.00 with a high target of $164.00.
In the past 52 weeks, shares of video streaming giant have traded between a low of $58.46 and a high of $133.27 with the 50-day MA and 200-day MA located at $93.88 and $106.84 levels, respectively. Additionally, shares of NetfliX trade at a P/E ratio of 12.64 and have a Relative Strength Index (RSI) and MACD indicator of 52.18 and +4.53, respectively.
Netflix currently prints a one year return of about 52% and a year-to-date loss of around 11%.
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