As of now, I am seeing too much technical damage & aggressive selling with the major stock indexes & market leading FANG & FAAMG stocks to consider a long position in NFLX, instead, preferring to short any rallies into decent resistance like the 310 area today. With that being said, if you are looking for an objective level to go long NFLX, it would appear that a break above the 335ish resistance level & again above the 384-385 resistance level would be objective with the appropriate stops in place below.

Randy, I’m a bit confused. You said above 310 is a good level to initiate a short or add on to existing short. What level will be the potential long trade?

Glad to hear. Gotta love how quick the profits come when shorting. NLFX has just wiped out months of gains in just the past couple of weeks. If we play our cards right, we might be able to jump in on the next long-side trade & ride up the short-covering rally. Congrats on the trade!