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Thoughts on $NFLX and that 72.50 level
Been watching $NFLX pretty closely today. It bounced off that 72.50 area earlier, but it just looks... heavy. I mean, after that initial move up to 75.6986, it's just been a steady drip back down. That 72.50 level feels like a key support, at least short-term. If it can hold that through the close, maybe there's a chance for a retest of the earlier highs.
However, if it decisively breaks and closes below 72.50, I'd say that whole bounce idea is probably off the table for now. Could see it grinding lower towards 70 or even below pretty quickly if that support fails. Just my take, obviously, markets can do whatever they want.
3 comments · 4 points
Yeah, I noticed that too. It does feel heavy, almost like the earlier bounce was just a dead cat. Wondering if it'll find any real buying interest above 70 or if we're just waiting for a bigger drop.