Today, leading cyber safety platform, NortonLifeLock Inc (NLOK), is pulling back again. The stock is falling lower 4.07% to $24.49 a share. Traders should note that the stock is now breaking below its important 200-day moving average. This puts the stock in a weak technical position on the charts and often signals further downside in the near term.
The next major support level for NortonLifeLock Inc (NLOK) stock will be around the $22.50 area. This key level is where the stock staged a monster breakout back on May 11, 2021. Often, when a stock retests a prior breakout point it will serve as excellent support when tested. This is also an important retrace level that should add to the strength of the support area. I’ll look to be a buyer of the stock down around this major level.
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