Avoiding too much prediction of what happens next for NFLX. But it spent most of its time last quarter testing a support area. After a gap-down post earnings, it's back in that support area and touching recent lows. Moving past those lows could mean a fallout to the next support area which is also a 50% retracement from the Mar lows to July highs.
The 10d ATR (x2.7) suggests a 10.75% stop loss and position size of R9.31. An alternative is to use the 50 MA as a trailing stop loss, current at 7.95% and R12.58.
Lots of unknowns means a smaller R, maybe quarter or half position to start. Expect lots of volatility on the way, if it goes down.
Sell Short Point: 463.41
Stop Loss 10.75% (513.23)
Position Size: R9.31
Alternative
Stop Loss: 7.95% (500.25)
Position Size: R12.58
The 10d ATR (x2.7) suggests a 10.75% stop loss and position size of R9.31. An alternative is to use the 50 MA as a trailing stop loss, current at 7.95% and R12.58.
Lots of unknowns means a smaller R, maybe quarter or half position to start. Expect lots of volatility on the way, if it goes down.
Sell Short Point: 463.41
Stop Loss 10.75% (513.23)
Position Size: R9.31
Alternative
Stop Loss: 7.95% (500.25)
Position Size: R12.58
Website: drewby.com
Twitter: twitter.com/drewrobbins
All ideas are for information purposes only. I may or may not invest in the stocks discussed. Before investing in any stock, do your research and trade using your rules.
Twitter: twitter.com/drewrobbins
All ideas are for information purposes only. I may or may not invest in the stocks discussed. Before investing in any stock, do your research and trade using your rules.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Website: drewby.com
Twitter: twitter.com/drewrobbins
All ideas are for information purposes only. I may or may not invest in the stocks discussed. Before investing in any stock, do your research and trade using your rules.
Twitter: twitter.com/drewrobbins
All ideas are for information purposes only. I may or may not invest in the stocks discussed. Before investing in any stock, do your research and trade using your rules.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.