NFLX - look for trade setups to 400
Looking at monthly and weekly charts, stock should head down to 400. Options are too expensive for me to buy too far out in time. I instead will look for trade setups on shorter timeframes and place day trades or short term swing trades. See red support lines on price and RSI charts - these will soon be broken to downside if my idea is correct.
Today I bought 8/7 470 puts.
Price went below 20sma on daily chart and is retested yesterday. Stochastic is below 50, and below RSI. 7-day RSI is below 14-day RSI. On weekly chart the directional volume will head lower, and selling will bring price down to 10sma and 20sma.
Today I bought 8/7 470 puts.
Price went below 20sma on daily chart and is retested yesterday. Stochastic is below 50, and below RSI. 7-day RSI is below 14-day RSI. On weekly chart the directional volume will head lower, and selling will bring price down to 10sma and 20sma.
Nota
Keep in mind that trade ideas change as technicals and sentiment changes. This bearish idea is void if that support in on chart holds, or if market sentiment becomes more bullish again. Keep your positions small and be firm about when you will exit a trade.Nota
Sold puts today for small profit. Rather than risk an overnight change in sentiment (market turns bullish), I will wait and see what the market does overnight and tomorrow may provide a nice day trade. I am watching this stock to trade Thur-Fri with weeklies.
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.
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.