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NFLX Swing Trade

NFLX (Netflix Inc.) will be added as an Active Short Trade on this breakdown below the 60-minute rising wedge pattern. At this time, the sole price target is T1 at 153.15 although based on the scope of the large rising wedge & powerful negative divergences on the daily time frame, additional price targets may be added to this trade. 60-minute & daily charts below:

For those only interested in a quick pullback trade, as the primary trend in NFLX, as well as the Nasdaq 100 which it is a component of, remains bullish, there is a gap support zone that comes in 2½-4% below current levels which is a very high probability target.

The suggested stop for this trade will be any move above 170.10 with a suggested beta-adjusted position size of 0.90.

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Jun 9, 2017 9:56am|Categories: Completed Trades - Short|Tags: |3 Comments

3 Comments

  1. rsotc June 9, 2017 11:02 am at 11:02 am

    For those either with the patience to hold a NFLX short for many months, possibly a year or more -OR- active swing traders that want to reverse from short to long at key support levels, then short again following the bounce, these are my long-term downside targets. Weekly chart:

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  2. Dazi June 9, 2017 12:22 pm at 12:22 pm

    Great call on NFLX, Randy, thanks. I already had some and added.

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  3. pkm48193 June 9, 2017 1:13 pm at 1:13 pm

    Thanks Randy, caught that wave just in time

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