Friday, December 20, 2019

NFLX due for a dip? Update 2


Another day another move closer to the 61.8% Fib resistance level. Still holding the Jan 320/310 Put Spread, which dropped in value today by about another $70. Can't worry about that, the important thing is we have fixed risk. Risk is limited to the $355 cost of the Put Spread.

Also marked on the chart a Gap between yesterday's low (324.18) and the close the day before (320.80). Notice the 8ema will coincide with the bottom of the gap in a day or 2. That will make a good natural target if we get a reversal in the next couple trading days. We'll see.

If you want to see a legend of the chart indicators, check my profile.

No comments:

Post a Comment