High-beta names feels
a bit heavy at this point after a big run since mid of May. In Netflix
, after it borke up bear chanel, it had a nice and clear move following the 8-day EMA
from $350 to $475. It failed to hold above previous high $458. Right Shoulder was re-test of this resistance that is still in tact. Entry Short on break of neckline around $433-$434 could give us high-probability trade. For trader with different risk parametres you can use earlier entries with tighter stops. This time I don't have well-defined target, reasonable level is $417.20 base support. I will measure and update.