NFLX sets up nicely as a swing-trade short setup.
Stock: Netflix (NFLX)
Long or Short: Long
Entry Range: $91.00 – $90.50
Stop-Loss: $95.55
Chart: Netflix (NFLX) Daily
Reason for Trade:
This trade isn’t ready to get short yet. But notice the bearish wedge forming on the stock. If it breaks through that $90.50 level in the coming days or the $91.00 in the coming weeks, this stock will setup nicely for a short back down to the lower channel.
Symmetrically this stock is a gem. Clear rising support and resistance levels. With this stock being as volatile as it is, it’d be no surprise to see it head back down to the $75 level. Place the stop-loss at $95.55.
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