Volume drying up after earnings run, stock appears to be getting tired here and hitting resistance. I am short via puts and have February 25 $570 puts. Good luck! The 50dma appears to be crashing down on to the 200dma, this is a bearish SELL signal if confirmed. Possible head and shoulders in play which could take some time to play out with 513 PE Good luck!
NFLX held technical support and needs to have at least a dead cat bounce if nothing else with a 9 RSI negative macD and stochastics on the violent drop. We should see at least a 15% bounce from Monday's bottom of $356.04 to $409 -$441 a bounce on Fridays close. We have 2 gaps to fill. Wednesday after the bell it was announced Pershing Square's Bill Ackman...
Long TXG 2,000 shares and 51 $110 Feb 18th calls. There has been some interesting call option activity on TXG as of last week 1/25/2022 someone purchased 600 Feb 18, 2022 $110 calls and 600 Feb 18, 2022 $120 calls and paid approximately $400k for these call options for a stock with little option activity I find this intriguing. I believe the EW correction is...
Waiting for earnings run to diminish Monday/ Tuesday to see if it can pierce through overhead resistance high $560's, 200dma additional resistance at $588.99 and 50 dma at $607.24. If this level fails $423 is support on a very volatile stock with a 495 PE!!! in an environment of "value" rotation away from PE.