Netflix, Inc. (NASDAQ:NFLX) saw upgrades and a short squeeze sending it to a 52 week high of $1744.40. No sooner had the upgrade happened, and the shorts got squeezed out, this stock was down for the count. It fell sharply for two consecutive days, dropping all the way to the daily 20 moving average. After hitting this technical support area, the stock has slowly bounced higher. Learn how to read the upgrades. Nine out of ten upgrades that occur on a very overbought stock will be utilized by institutions to sell into the amateur buyers. This markets the top.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
