TRADING TIPS

NFLX Long Setup; Let’s Take a Look

Hubert Senters here. Got a question from the viewer of what I think about Netflix in particular on the long side. So let’s take a look at this. Right now, it’s non-trending because the ADX down here this little yellow, red and green thing, the line, the ADX. It’s $17.82. We would like to see it above $20 if possible. It didn’t have to be. But it’s going to help us out. But at least you can see kind of it’s headed in that direction. It’s headed towards the green line which is $20. We do have one, two, three bars above the cloud which is a decent buy signal. But it’s non-trending so you have to be a little careful. And your eye should gravitate to here and just see a natural little consolidation point here in Netflix. It could potentially run and have Netflix go to $557 maybe even $572. But it’s sideways to slightly higher. And it’s non-trending. It’s not a bad trade. The market is in a little bit of a funk so it’s not sure if it wants to go higher or lower. And that’s kind of keeping this thing kind of sideways. It’s a decent looking long on three to four fronts and here it would be trending. It just needs to breakout the consolidation. Now, if you’re okay taking a risk here and targeting these upper levels for a target. I think it could just be fine as long as you got a stop-loss. Hubert.

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