Netflix Gets Rocked. Watch This Support Area.

Netflix Inc.NFLX has been one of the big technology winners in 2010. However, since December 1st, 2010 the stock has been under pressure and possibly in correction mode. The positives for popular Netflix is that the stock is still trading above it's daily 20, 50, and 200 moving averages. This tells us that the stock is still in a strong position on the charts. Stocks that have this type of strength usually have bounces at major support levels. Right now that level would be around $172.00 on the daily chart. Intra-day the stock will have short term support around the $187.80 area.