Netflix On The Verge Of A Major Move

Netflix might be making a sizable triangle of some kind. Be patient on this “buy low, sell high monster”. There’s some obvious lower highs coming in. NFLX is interacting with the 200 SMA on a daily chart. See Figure 1 below.

 

 NFX_.jpg

Understanding the gaps and daily chart let me into this weekly bear call spread. 

 

From here, I don’t know for sure if NFLX rolls over and bounces, But if it does, my edge would still be bullish. Here was my analysis on NFLX from before earnings.

 

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