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Closing NFLX Short Trade for 12% Profit

Upon further review of the charts, including the fact that the odds for a considerable reaction off T1 appear to be substantial at this time, I've decided to close the NFLX (Netflix Inc.) official short trade here (338.25 is the current price) for a 12% profit & may look to re-short it on a bounce to either of the resistance levels shown above. Previous & updated 60-minute charts:

Despite the elevated chances for a near-term bounce off support, the intermediate-term outlook for NFLX remains bearish & as such, Netflix will be on watch for another potential swing short trade. Daily chart below:

NFLX daily July 31st

NFLX daily July 31st

Netflix along with two other recently completed trades, GDX & SXE, were mentioned in the trading room as well as a recent video, with NFLX hitting the first target on Monday for a gain of 11% & the latter two hitting their suggested stops on Friday. NFLX will now be reassigned to the Completed Trades archives as will GDX & SXE as soon as a final update on those trade is posted.

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2018-07-31T12:02:34+00:00Jul 31, 2018 12:02pm|Categories: Completed Trades - Short|Tags: |0 Comments

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