With internet video consumption increasing Netflix is in a pretty strong position with only potential positive news that can prop it up. Therefore a market wide tech dip is an opportunity for a short term trade to go long and sell at the previous high
Trade closed: target reached:
Removed my original TP because Goldman Sachs released a super bullish report increased its price target to $490 from $390. It was the sentiment of the report and not the price target that made me remove the TP with a target to close before the day ended. My closing price was 375.194 for a sweet 5.6k