Technical View: Netflix suffered technical damage in Friday's FANG meltdown
The so-called FANG names took some big point hits in Friday's trading. Of those, Netflix (NFLX) appears to have taken a more major technical hit than most. When looking at an OHLC chart, daily basis, the uptrend support line off the lows of April 20th was broken and remains broken this morning in early pre-market trading. At time of writing in the pre-market, price was last at $154.76, down over 2%. The uptrend support line intersection with price is at $163.50, making this so far a quite significant technical break. Next support at current price is at $150.94. Resistance is at Friday's closing price of $158.03. A move back above $163.50 would put the stock back on a more bullish footing.