Whilst the main market built significant gains across the day, there was severe weakness in Netflix (NFLX), which settled -8.3% @ $101.05. Near term outlook is uncertain.. with threat of a test of rising support in the 96/93 zone. A rally back to the 110/115 zone is viable within the next 3-8 trading days.. but will be very difficult
Suffice to say.. an earnings miss.. and Mr Market used it as an excuse to smack the stock severely lower.
In Wed' AH, the stock printed the $93s before settling around $107.
Today's action saw significantly downside price action.. briefly breaking the key $100 threshold.
Despite the daily close >$100, there is high threat of selling into the weekend.. 96/93 looks very viable.
In any case... even if sp'2060s by end month, NFLX will surely be trading no higher than the 110/115 zone. The Aug' 5th high of $129 now looks a very long way up.. and appears out of range for the rest of the year.