NFLX: Many are trying to figure out what the er play is
I am personally BULLISH in this name. But this is not the smart way to trade a name. Don't marry a name and play the trend if you want to create wealth imho.
Here are few key technical indicators that see on different time frames:
1. On a DAILY: On Friday it tried to take a dive into Ichimoku Cloud and just entered.
What to watch for on Monday/Tuesday?
See if we get a bounce. What happened on Friday was a "over reaction" to DIS news. It did bounce nicely off 0.618 fib to 357ish. I played few lottos...added 360 calls at 0.55 and sold them at 1.36. That's not the point. Point is despite the DIS news it did bounce and it can happen on Mon/Tues too. If that happens then, we're once again above Ichimoku Cloud. Relief for bulls. Another thing is that it did not break 0.618 fib on Friday. Strong support that is.
Watch for volume (specially towards the final hours).
Keep an eye on Weekly, Apr 26th and beyond options volume. Specially 380+ (for the bullish) and 330- (for the bearish).
2. (Bearish Scenario) I posted a read few days ago on 4 HOUR chart. What I see is there is H&S and if this really has to break loose then we can see 319 or below. Based on I Cloud, it can go down to 300. If this ever goes down to 300 then "LOAD UP WITH BOTH HANDS".
Plan:
If you already have calls and bullish (like I am..holding NFLX Apr 26th--380 calls)....wait till Tuesday afternoon and see what's going on. May add few PUTS for "Hedge". Unlike some dude on ST makes some stupid comments without even knowing squat.
This will move higher than 8-10% after earnings from Friday's closing price, imho.
Hope this helps and please do your own study before jumping on either side.
Enjoy the Masters.
Here are few key technical indicators that see on different time frames:
1. On a DAILY: On Friday it tried to take a dive into Ichimoku Cloud and just entered.
What to watch for on Monday/Tuesday?
See if we get a bounce. What happened on Friday was a "over reaction" to DIS news. It did bounce nicely off 0.618 fib to 357ish. I played few lottos...added 360 calls at 0.55 and sold them at 1.36. That's not the point. Point is despite the DIS news it did bounce and it can happen on Mon/Tues too. If that happens then, we're once again above Ichimoku Cloud. Relief for bulls. Another thing is that it did not break 0.618 fib on Friday. Strong support that is.
Watch for volume (specially towards the final hours).
Keep an eye on Weekly, Apr 26th and beyond options volume. Specially 380+ (for the bullish) and 330- (for the bearish).
2. (Bearish Scenario) I posted a read few days ago on 4 HOUR chart. What I see is there is H&S and if this really has to break loose then we can see 319 or below. Based on I Cloud, it can go down to 300. If this ever goes down to 300 then "LOAD UP WITH BOTH HANDS".
Plan:
If you already have calls and bullish (like I am..holding NFLX Apr 26th--380 calls)....wait till Tuesday afternoon and see what's going on. May add few PUTS for "Hedge". Unlike some dude on ST makes some stupid comments without even knowing squat.
This will move higher than 8-10% after earnings from Friday's closing price, imho.
Hope this helps and please do your own study before jumping on either side.
Enjoy the Masters.
Comment:
I can see this trades higher and goes upto 363 before reporting er on Tuesday close.