NFLX approaching the 100 week moving average, potential reversal
NFLX fell off a cliff following some bad FA news. The sentiment around the stock is pretty bearish given this, and there has been tons of bearish articles that have come out, but I think this could be a fantastic buying opportunity as it is close to its 100 weekly moving average, which held the price on the previous drop back in October-November of 2018. High risk per usual given the bad news recently among other factors (such as increasing competition.) If price has a weekly close below the 100 week MA, we will most likely be eyeing the 200 weekly MA as the next potential reversal point.
Entry: 303-320
Target 1: 50 week moving average (currently around 338.)
SL: Weekly close under the 100 week MA.
Only focusing on 1 target for now as need to see price develop over the next few days and weeks to get a better idea of whether or not this will rebound back toward that 360-370 level.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
-As a side note, if you would like to support a college kid and the TA I do, I accept BTC/ETH/LTC/USDC donations. Any and all donations are greatly appreciated and really do help me out! Thank you to all you who donate. :)
BTC: 3F13946JWfNskLDu2oi3FTRV65FV9yK7U8
ETH: 0xe032430f158966F4118af917b5F1e024949697bB
LTC: MVDbAhm2yoyCzeRnayMN61oZp75MZ5SZVj
USDC: 0x1F6d47a9330897d6043886d64738A2E255dd0b92
Entry: 303-320
Target 1: 50 week moving average (currently around 338.)
SL: Weekly close under the 100 week MA.
Only focusing on 1 target for now as need to see price develop over the next few days and weeks to get a better idea of whether or not this will rebound back toward that 360-370 level.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
-As a side note, if you would like to support a college kid and the TA I do, I accept BTC/ETH/LTC/USDC donations. Any and all donations are greatly appreciated and really do help me out! Thank you to all you who donate. :)
BTC: 3F13946JWfNskLDu2oi3FTRV65FV9yK7U8
ETH: 0xe032430f158966F4118af917b5F1e024949697bB
LTC: MVDbAhm2yoyCzeRnayMN61oZp75MZ5SZVj
USDC: 0x1F6d47a9330897d6043886d64738A2E255dd0b92
Comment:
Tagged 100 week moving average:
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So far so good:
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Up about 7% from the entry at the 100 week MA in yellow:
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Almost to my target at the 50 week moving average:
Trade closed: target reached:
My target around the 50 week moving average in Green has been hit for a roughly 10-11% profit. Thanks for playing: