Option Millionaires

[uranium-pinto-beans]

Netflix's (NFLX) 24% surge premarket to $216.05 has put the stock on track to open at a 19-month high--but there's room for further gains before hitting potential resistance. The next level to watch is $220-225 , which was strong support from mid-April/ early-August 2011 . Technicians believe broken support levels morph into resistance when revisited. Above that, $245-250 could attract sellers as there were multiple intraday highs within that range from February- May 2011 , followed by the June 2011 highs around $275-280 . Asbury Research's John Kosar says investors shouldn't ignore chart levels because they occurred so long ago: "Asset prices have memories because investors have memories."