We must first consider market conditions. The tech index, Nasdaq 100 recently dropped a lot, and it looks like it reversead today. Netflix has a great correlation, the only difference is that in 2013 Netflix gained 300%, while the NAS100 a bit under 50%, so Netflix is more attractive.
The main attraction is the ratio. Entering now, and setting a stop under 350$ offers a 5% risk. Only 5% , when the previous high is 25% away. That's a ratio. No matter what is going to happen, this is a trade I want to be in, the risk/reward ratio is just too attractive. As I said in the chart, I won't be setting any target like I usually do, I will move my stop loss to breakeven if it moves up and leave it there. If I'm right and it will rally, I will look to add.
All the technicals are all labeled on the chart.
Note that the situation looks simillar on most of the "Bubble stocks". I recently posted long ideas on Amazon, 3D company and Facebook . They are all linked. If the market won't work, most probably all of them will fail. Out of these four stocks where I spotted entries, most appealing are 3D and Netflix .