Netflix dropped 13% for the week and has backed down for eight straight sessions.
Netflix dropped 13% for the week and has backed down for eight straight sessions. Only one of those days, last Wednesday's session in which shares gapped down through 50-day support, drew heavy trade. And the drop didn't stop Cantor Fitzgerald, which has a buy rating on the stock, from boosting its price target to 180 from 150 on Friday.
Netflix began last week teed up in a six-week flat base. Now it has corrected 20%, with no obvious base pattern in sight. Netflix's Composite Rating is 61. That's weak, but well above its rating of 19 at the end of the third quarter.