Hubert Senters here.
Let’s take a look at Netflix. Had a question from a viewer what I thought about Netflix and they actually said they’re long from $320. And what did I think? So they followed the directions. So in this situation if I was long at $32. So let me put on here $320. So right above the cloud decent trade it’s at $365 not bad. The only thing I don’t like about it. I mean you’re above the clouds so far right now you’re in fine shape. I don’t like that the ADX down here is $11.16. It’s a little low that means this is going to trade sideways.
Anytime, the ADX drops below $20. As you can see which it’s doing right there. It means it’s going to go into sideways consolidation or non-trending mode. Right now, it’s just drifting so right now you have a drift. So what I would do is if I was long this at $319, $320 I would just use a hard stop of like $325 lock in five maybe six, seven, eight and ten point. Anywhere from five to ten point so $320.
I would say let’s put a stop at $330. Let’s lock in 10 points. What we’re going to do is we’re going to lock in so we can’t lose any money so we’ll say stop would be $30 right there $29 to $30 that’s close enough so there. There you go. Now, as far as the target goes you’re going to have to wait until it gets better trending and it may happen this fall.
But right now, if you’re currently long Netflix at $320 my stop would be $330. So I’m making at least 10 points on the trade and you would hope that the market continues to go up and Netflix kind of gets sucked up higher into a target of like $400 or $420.
I’ve been asked to speak at the Wealth 365 event which is July 17th. My speaking spot is at 11AM EST. I will HYPERLINK you to the page so you can register early to increase your odds of getting a spot over there.
Good luck. Have a great weekend. See you on the next video.
Hubert.
