Market Overview

Is It Time To Chill With Netflix?

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In a recent market scan, Trade Ideas A.I. engine found an opportunity to get long a stock that has

already had earnings for this quarter and is showing signs of a turnaround.

Netflix, Inc. (NASDAQ: NFLX) is down about 18% from recent levels before earnings were reported. After days of selling, Trade Ideas has identified a likely turn in price here around the 90-91.00 level and is showing signs of upside alpha to those who take a chance at these levels.

Currently, Trade Ideas shows some interesting metrics today:

  • Short float % is just under 14%
  • The short sellers have been unwinding at -30%
  • Current debt is equal to current cash
  • Smart stop calculated by A.I. is $0.98

Using a Trade Ideas “Smart Stop” of 98 cents will put the downside risk on this one at 89.02. The entry is right here between 90 and 91 in NFLX. As always please manage your risk accordingly.

Posted-In: Technicals Tech Trading Ideas

 

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