The NFLX (Netflix Inc.) short trade as hit the second price target, T2 at 284.20, for a 23.8% profit (20.2% beta-adjusted gain) with a brief overshoot & snapback rally into the close to park the stock right on support. As such, Netflix may or may not bounce this week but as of now, the charts remain constructive for a swing short with T3 (250.40) still the final target. Original & updated daily charts below:
Any bounce back up to either the uptrend line and/or the 310.25ish resistance would provide the next objective level to re-short NFLX (for those that covered at T2 today) or to initial a new short entry or add-on to an existing position.