Today, leading internet television network, Netflix Inc (NASDAQ:NFLX), is falling sharply after reporting earnings. The popular internet stock is declining lower by $40.29 (-11.11) to $322.15 a share. The company cited weaker subscriber growth overseas when it was expecting to see global expansion. It should be noted that the stock plunged below some major support levels First, the stock nosedived below its 200-day moving average on a daily chart. This puts the stock in a very weak technical position on the charts. The next major support level for the stock will likely be around the $280.00 area. This level is where the stock broke out in December 2018. Often, the institutional money will defend the stock around this important area.
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