Netflix like all the other FANG equities is facing major pullbacks which pose opportunities for many long-term investors. As for short-term trading, Netflix is currently now ranging around the 200MA line of support and buyers have been pulling the price back up to the 200MA line. But due to constant news of trade war emotions had been running high in the market, suppressing the buyers too. The key price to take note would be 301, if prices were to surge past this point it would be a potential long trade with 324.5 acting as my key resistance region to set as profit taking. However, a significant volume of buyers is key to enter this trade.
Trade closed: target reached:
Closed part of my trade and letting some of the remaining trade to run. Expecting pullbacks to the resistance turned support region and heading upwards if the overall market remains positive. If the overall market turns south, the trade would be fully close.