Netflix Fades After Higher Open

Netflix, Inc. NFLX shares are trading higher by $1.70 at $101.90 in Thursday's session. It is trading higher for the sixth day a row, rallying from its May 19 close ($89.55) to its current level.

After a higher open, it continued in that direction before reaching $104 and reversing course. That is just shy of a void in price action that was created when the issue was punished after its Q1 report. In order to fill that void in price, it would need to reach $106.02.

The ensuing decline has yet to fall into the upper-end of Wednesday's range, which had a high of $100.31 and at this time the intra-day low rests at $101.38.