With a reasonable ER and chart looking primed, I am continuing to build my long position in this area. Ive kept plenty of dry powder for a drop to the 29 region and will load heavy there. A stop below the lowest order block provides an excellent R:R for buying here. Maybe I'm being naive but seeing instituitons downgrade IQ seems like a contrarian indicator to me...
Waiting on a reversal bar like those in green, or some other signal that it's a good opportunity to buy? For now just watching for support and resistance.
$NFLX Netflix tagging support around $336.50 this morning. Expecting a bounce in the near/medium term. Most likely back above $400 level by next ER in the fall.
Note: Observation/opinion, not investment advice.
TRADE IDEA (conservative)
BUY at the break of $383.00
STOP at $363.00
TARGET $420
Risk to reward 1:2
FUNDAMENTAL PERFORMANCE FOR NFLX
Current Earnings
EPS Due Date 10/15/2018
EPS Rating 97
EPS % Chg (Last Qtr) 467%
Last 3 Qtrs Avg EPS Growth 233%
# Qtrs of EPS Acceleration 1
EPS Est % Chg (Current Qtr) 134%
Estimate Revisions ...
NFLX has an inside day after earnings, the direction it breaks will be very important!
It has a big pullback on its earning day but recovered much also, both breakout will be a noticeable day trade!
Let's see how it goes!
Actually i have short position from 420 which is starting point of C in my Bullish Bat Pattern. However, i took my position because of daily price action. As you can see A and C points are closing points of daily candle and it clearly says us to short it.
I will close most of my position at 380 but short position can continue till reach 356.
In a nutshell, i am...
NETFLIX apparently is overvalued, however for some reason it hasn't been retracing much. On the other hand China and U.S is fighting with tariffs. My assumption is that it would finally trigger another financial crisis, starting with Chinese housing price dropping significantly. It is a well-known fact that China is in a huge bubble. If you don't, search 'ghost...
Although stop runs above 420 didnt trigger, a move down towards 380 still came to fruition. A decent demand zone has formed around 380 and fully expect to come into play again. Expecting some bounces at 395 (already happened), 390 and 380. Earnings are at the endo of July so trade should be closed before that.
$NFLX
On 6-12-2018 NFLX initiated a pendant pattern as of today the lower support was tested resulting in a bounce from 393 to a high of 400 in intraday trading.
With earnings coming after market close this makes for a vital pivot point to enter the trade long or short. A beat on earnings and subscriber growth could start the move back up to resistance giving a...
We're back into the thick of earnings season again ... .
NFLX (rank 64/implied 52) pops the top on Monday after market close, so you're going to want to slap anything you want to do on before session end to take maximum advantage of a volatility contraction play.
Pictured here is a 20 delta iron condor in the weekly with a buying power effect of 6.59 per...
