NFLX (Netflix Inc.) will trigger an objective short entry on a break below the 700 minor support following the recent divergent high & bearish rising wedge breakdown on the daily chart below.
NFLX daily Oct 3rd
The maximum suggested stop, assuming the trade setup triggers an entry, is 740.63. Also, note that NFLX is scheduled to report earnings in about two weeks on or around Oct 17th. As such, it is very unlikely than anything more than the first target or two will be hit before then so should the setup become an active trade, one must consider whether or not to hold the position into earnings if shooting for the deeper targets as NFLX has a history of above-average gaps in either direction immediate following many of the earnings reports.
I wouldn’t post the setup if I didn’t think the next move in NFLX following earnings would be to the downside (as the chart indicates a imminent & significant trend reversal is likely IMO) although that far from guarantees that will be the case. As always, DYODD & pass on trades that do not mesh with your risk tolerance, trading style, & outlook for that particular security.