TopOptionAlert
Oct 19, 10:41 PM
$NFLX NOV20 72C · still actionable
Zone:
$69.36 to
$70.34
Invalidation: close under
$67
Objectives:
$74.58, then
$79.23
The math: up 6.8% to the first objective and 13.4% to the second, against 4.1% risk on the invalidation, better than 3 to 1 to the second
Dear friend, this swing setup is a little like waiting on a letter that arrives tomorrow night and changes how everyone feels about a house they have walked past all year. Netflix closed at
$69.85 today after buyers held the
$69.02 low, it is down about 25 percent this year, and earnings after the close on October 20 will tell us whether that low mood was earned. What that means is plain. The floor near
$67 sits close under us, and a solid report has room to carry price toward
$74.58 first, while a close under
$67 would say the floor failed and you step aside.
P.S. Watch what management says about growth for the last part of the year. That guide may matter even more than the numbers for the quarter just ended.
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