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peterbokma
Jan 13, 2022 11:41 AM

NFLX-BUY ++ Long

Netflix, Inc.NASDAQ

Description

Netflix is a strong BUY as the RSI is quite oversold.

We are close to major support $ 510and for that reason BUY strategy is suggested.

BUY current $ 525-535 for a move back to $ 590 and place stop-loss below $ 500 for now.
Comments
DHD269
Netflix will be losing alot of subscribers with this latest price increase. I'll be shorting this down.
peterbokma
@DHD269, it is oversold and you may get better selling levels later on. tc
ShortSeller76
@DHD269, I concur with Peter. It likely goes up before down. You should never short an oversold stock after a 25% drop, it has to bounce, even if that bounce is a dead cat followed lower you'll save yourself a lot of grief waiting for a better point than here.
peterbokma
@ShortSeller76, indeed. I usually focus on the market condition, i.e. valuing the drop or increase and be a contrarian at times. In this case it was a large drop so one should expect a retracement. thanks for the comment. tc.
ShortSeller76
Bought in today, way oversold and likely a good setup for earnings next week
peterbokma
@ShortSeller76, great to hear. tc
peterbokma
@ShortSeller76, true same view.. thanks tc
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