Netflix's rally appears to have lost steam. One technical analyst says this needs to happen in the stock before it looks like a buy again.
Netflix has rocketed 35 percent higher so far this year, making it one of the best performers in the S&P 500.
Bill Baruch, president of Blue Line Futures, would need to see a sharp move to break Netflix out of its two-month-long funk. Netflix would need to rally more than 5 percent to break out above $380. It has not closed above there since October."Not going below $340 would be very constructive and continue to not do anything wrong as it has done for the last month and a half," said Baruch.Mark Tepper, president of Strategic Wealth Partners, said the company faces tough competition and slowing U.S. growth, but he has faith in its expansion overseas.
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