High-beta names feels a bit heavy at this point after a big run since mid of May. In Netflix, after it borke up bear chanel, it had a nice and clear move following the 8-day EMA from $350 to $475. It failed to hold above previous high $458. Right Shoulder was re-test of this resistance that is still in tact. Entry Short on break of neckline around $433-$434 could...
Although I am long this stock, I am a bit bearish with my view. First off, the price seems to be too much above the cloud right now. There is much more downside than upside. If it holds, then eventually it will find support - but it definitely does need to consolidate a little for this momentum to be healthy.
Also I read about some insider sells which gives me...
This stock is poised to go higher, it is moving well without nasdaq on it's own news of price increase and also more content...think it could run, but NAS move up would help....I keep risk to 20% on options and expect 40% gain or more...timeframe is by August move with Sept options