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.

 

Related

stocks

Sell Signal For US Stocks: Rough Week Ahead

While the eighth year of a Presidential term calls for a rally from mid-May to early/mid-June, it...

May 31, 2016