Swing Trade Idea – (NFLX) – July 22, 2020
Our bullish trade for Wednesday, July 22nd is NFLX (Netflix Inc). NFLX is part of the Communications Sector (XLC). XLC has experienced a 4.11% gain in the last month and its 1M and trend turned bullish on July 1st.
NFLX’s 1M trend turned neutral yesterday as price has pulled back to an ideal buying zone. 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 $473.00 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 $46.00.
