NFLX broke outside of a channel to the upside, after forming a double bottom on the daily (11 Aug). I'm targeting $600 based on double bottom pattern theory.
Happy Trading!
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Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
Happy Trading!
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Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
Trade active:
BTO: 9/18 NFLX $600 C
Comment:
50% Retracement complete. Target still in play:
1. Volume fell in tandem with the decrease in price
2. Price retraced to 38% Fibonacci level.
3. Price retraced to the mean of a bullish channel on the hourly.