Is Netflix Stock About To Rally?

Shares of Netflix, Inc. NFLX have been in a steep downtrend, but that may be about to change because the stock is getting close to a support level.

Since last July, Netflix shares have dropped to the $470 level four times. Each time a rebound or rally followed.

See also: How to Buy Netflix Stock

Markets can have memories. Even though the last time Netflix found the support was six months ago, the level could still have support at it and there’s a chance the stock rallies off of it again.

See Also: Cathie Wood Buys $26M Disney Shares And Sells $13M In Netflix: What You Need To Know