🎬 I’m Pulling the Trigger on Netflix Today
The stock is starting to move in the direction I wanted to see, and I am ready to put capital behind the setup.
Hello everyone,
I have been watching Netflix closely since the post-earnings decline, but I did not want to enter while the stock was still falling and showing no evidence that buyers were stepping in.
The movement I wanted to see is now beginning to develop.
Netflix tested the lower end of its 52-week range, held above the recent low, and has started building a base. More importantly, the shares are now pressing into the 8-day EMA and beginning to move above it.
Price is no longer trading well below the short-term average. It has caught up to it and is beginning to challenge it from underneath.
That is the first technical change I was waiting for.
The 8-day EMA is still below the 21-day EMA, so I am not calling this a complete trend reversal. Netflix still needs to hold above the 8-day EMA and then work through the 21-day EMA near $72.74. However, I do not need every moving average to turn bullish before entering.
I wanted to see the decline slow, support hold, momentum begin to improve, and price start reclaiming its first short-term moving average. Those conditions are beginning to line up, which is why I am entering now rather than waiting until the recovery is obvious to everyone.
Below, I am laying out my exact entry, the next resistance levels, my take-profit target, and how I plan to manage the position if the recovery continues or the recent low fails to hold.
🔒 Paid subscribers can continue below for the complete trade and management plan.
