BZ Chart of the Day: Netflix Stock Breaks Long-Term Support

A sign is posted in front of Netflix headquarters in Los Gatos, Calif., on April 20, 2022. Justin Sullivan/Getty Images

Sometimes, markets have memories. Unfortunately for shareholders of Netflix, Inc., that isn’t the case today.

A market memory refers to a long-term support or resistance level. These levels can stay intact and remain important for months or even years.