Good long opportunity in NetflixWith the recent recovery from NASDAQ:NDX from in the last 2-3 days, i would like to go long if NASDAQ:NDX breaks out from its trendline.
NASDAQ:NFLX is an attractive option as i believe we can get a 1:2.5 approx long trade here with a possible 16% upside. Since last year we have seen a higher high higher low trend which is again trsting its new higher low as it is being supported by the volumes near the 50-100-200 DMA near this price level. I would like to go long if NASDAQ:NDX breaks out on NASDAQ:NFLX with a SL below the DMAs.
All eyes of NASDAQ:NDX and NASDAQ:NFLX for a good RR swing trade.