TopOptionAlert
Oct 24, 12:28 AM
$NFLX NOV20 68C · still actionable
Zone:
$65.4 to
$66.3
Invalidation: close under
$64
Objectives:
$70, then
$74
The math: up 6.3% to the first objective and 12.4% to the second, against 2.8% risk on the invalidation, better than 4 to 1 to the second.
Dear friend, here is a washed out name sitting right on its yearly floor. Netflix closed today at
$65.85, just a couple of dollars above its 52 week low of
$64.10, after beating earnings four quarters in a row and getting sold off every single time. That is emotion doing the selling, not the math. This swing catches the panic at a real level: if
$64 holds, the bounce has room to the
$70 and
$74 zones where the old moving averages sit waiting. Why let a scared market set your price?
P.S. The street still sees
$90 as the target, about 37 percent over today’s price, so this
$74 second objective is not even close to optimistic.
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