Taking a stab at $NFLX

Perhaps it was the Google news- Google Stock Heats Up the Video Streaming Wars;

or perhaps it has to do with the $NFLX daily chart below:

NFLX_daily

Price action looks like it could not hang on to floating prices after the gapped up.  Today drop may be a prelude to further drop back to the $180 79sma support line.

Below is the  5 min $NFLX chart that gives me the comfort to buy $NFLX June 215 put option at current price point.

NFLX_5m

The retracement comes into resistance from both the 79sma and 89xma lines. I see small risk from here since I can’t see any new catalyst from Netflix that will propel the price to shoot much higher from this point.

My 2 cents.



Categories: NFLX

Tags: , ,

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