Whilst the main market closed moderately mixed, there was notable weakness in Netflix (NFLX), which settled lower by -3.4% @ $94.59. Near term outlook offers weakness to the Feb' low of $79.95, with a broader bearish target of $70.
Suffice to add, mainstream sentiment is increasingly frustrated with NFLX.
With the BREXIT, and related EU weakness, there is serious concern that the European market will mean rev/profits will be impacted into 2017.
From a pure price perspective, NFLX looks headed for $70. If the main market implodes to the sp'1600s or lower, than $50/45.
To be clear, NFLX is producing some of the finest TV shows ever made, but from a valuation perspective, its simply over-priced, with a forward PE pretty close to 100.