TRADING TIPS

Is NFLX Safe to Buy Here?

Hubert Senters here. Last little bounce on Netflix after earnings up $55.88 and looks like it’s going to continue to climb so right now straightening $389. So will it continue tomorrow? Well, we’ll just have to wait and see on that. I’m going to draw a line around here and say that’s where it’s trading right now and then go back to the daily really quickly so that’s overhead resistance of where it was. So if it can clear that tomorrow if it can handle its gains that it has put up after earnings and close above that $387, $388 area it could potentially make a run to about $420. If it rolls back over as long as it’s supported by the cloud at $365 and does not break below $350. It will be good to go but if it does break the $349 area again then it could potentially go lower. Now, all of this is predicated on if the Nasdaq stays up and the Nasdaq’s a little bit weak so if the Nasdaq continues to go lower. I know we had a good bounce today. It will still bring Netflix down. So if the Nasdaq continues to do a pullback and doesn’t rally in like it needs to here to show that it’s still strong then Netflix little earnings pop will be short lived in a rollback over so be careful. Marco Helweg and I are going to be doing a special webinar on ‘’How to Trade Minnow Risk to Target Whale Profits, ’’ Wednesday, October 17th at 8PM EST. I’m going to hyperlink to the form so you can sign up. CLAIM MY SPOT NOW that will register you for the webinar. Good luck. Hope it helps. And I’ll see you on the next video. Hubert.

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