BH42
Long

NETFLIX BREAKOUT ABOVE RESISTANCE TO NEW ALL TIME HIGH - NFLX

NASDAQ:NFLX   NETFLIX INC
Further to my post earlier this week, Netflix has now pushed above it's previous resistance to a new all time high.

Netflix broke above resistance yesterday on good volume and closed the session at $454.19 confirming the breakout. We will be looking for a small back test early next week and providing the new support levels hold, higher highs over the coming weeks.

We already took a large position in Netflix early this week and will be looking for around 15-20% profit in the short term before exiting. Price target sits around $500-$520.

We hope that the new support holds so that this great stay at home stock can put in a strong rally to our price target in the coming weeks !

Comments

what do you think went wrong?
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BH42 virtualtechie11
@virtualtechie11, Not at all, there are bad trades and then there is this one.....ha.....took a small loss on this one but came out of our position at open today, may get bought up again later this week but the buying volume is no where to be seen right now. FANG+ seems to have run it's race, a much quicker turnaround to reopening than many expected and the safe havens, especially NFX, now haemorrhaging money which I would imagine is pumping the airlines and banks.
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@BH42, i like your trades and set up :) could do with bit more context around your ideas when you post (being a needy learner) :)
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BH42 virtualtechie11
@virtualtechie11, Thanks. No problem at all, more than happy to provide more info with future posts.
If I could start the day again, I would tell you to take a heavy stake in TUI !!!! :)
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@BH42, i know , !! i guess no one knew it would shoot up this much, but then one thing i have realised is, there is technical analysis and then there is fundamental, if someone sat on this with some fundamentals in mind, they could have bagged nice profit (yes risky but)
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BH42 virtualtechie11
@virtualtechie11, Yes indeed, stock of the year will probably be Amazon, even though that's sky high right now too!
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@BH42 - this dint really go as planned, did it :(
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