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  • Swing Trade Idea – (NFLX) – June 30, 2020

    Jun 30, 2020 Swing Options Tips Comments Off on Swing Trade Idea – (NFLX) – June 30, 2020

    Our bullish trade for Tuesday, June 30th is NFLX (Netflix Inc). NFLX is part of the Communication Services Sector (XLC). XLC has experienced a 1.07% loss in the last month and its 1M trend turned bearish on June 26th.

    NFLX’s 1M trend turned bullish on June 16th and has been ranging the past few weeks to provide a good credit spread trade. Price has also rejected the 20 D EMA providing more evidence that the trend will remain bullish. With a technical score of 10 (out of 10), NFLX is a very strong stock that will likely move higher. 

    As a stop loss, if NFLX were to trade below $416.00 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves above $26.60.

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