A few weeks ago, we posted a trade setup idea about Netflix, where we were looking to buy the breakout of this recent consolidation zone. We sold our position this morning on the early surge, because at this price, with these technicals - and with where rates are at, this no longer seems like a compelling opp.
ADX falling, RSI divergence, macro and sector rotation no longer favor this name. We expect to see an AMZN-like breakout+failure into an area that may be interesting more long term.
Original Idea:
ADX falling, RSI divergence, macro and sector rotation no longer favor this name. We expect to see an AMZN-like breakout+failure into an area that may be interesting more long term.
Original Idea:
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