$NFLX complex move, higher then lower (details inside)
Updated
Even though 
NFLX missed on earnings , it's rallying after hours today. The first target to the upside is 349ish. I think somewhere between $349-357, price will top, and we'll begin a bearish move down through early February targeting 292ish (the bottom of the structure). From there, I could see price bouncing higher (if that support holds) all the way up to $379-382. If it doesn't hold, then price would likely go to the next support at $215.
There will be two chances to go short. One at $349-357 down to $292. One at $379-382 (should we get it). If we do get to that upper resistance, that's where I think most of the money will be made, because if we get to that upper level, I think we're headed down to the lower supports at $144 or potentially $80 which should mark the bottom of the move.
Basically I'm broadly bullish for the next 1-2 months (with awareness that there will be a correction once price hits the first resistance). Then bearish from around March- April onwards until we hit $144-80. Once we get to those bottom levels, I think that will be a great buying opportunity.
Let's see how it all plays out.
NFLX missed on earnings , it's rallying after hours today. The first target to the upside is 349ish. I think somewhere between $349-357, price will top, and we'll begin a bearish move down through early February targeting 292ish (the bottom of the structure). From there, I could see price bouncing higher (if that support holds) all the way up to $379-382. If it doesn't hold, then price would likely go to the next support at $215. There will be two chances to go short. One at $349-357 down to $292. One at $379-382 (should we get it). If we do get to that upper resistance, that's where I think most of the money will be made, because if we get to that upper level, I think we're headed down to the lower supports at $144 or potentially $80 which should mark the bottom of the move.
Basically I'm broadly bullish for the next 1-2 months (with awareness that there will be a correction once price hits the first resistance). Then bearish from around March- April onwards until we hit $144-80. Once we get to those bottom levels, I think that will be a great buying opportunity.
Let's see how it all plays out.
Note
Started scaling into puts for Feb 17th expiration. Price action still looks strong, so starting really small.Note
Ended the day in the positive on this one, however, I think there's potentially a move higher to $365 tomorrow or if we get over that level, it should be a great short. If that happens, I'll continue to add to this position heavily.
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