NFLX...where's it going?
A five day five minute chart shows the amazing price action on NFLX after they reported earnings last week. A bit a sideways action on Thursday followed by a $10.00 move on Friday. I've drawn a Fibo retracement from the all time highs to the recent lows. We are just breaking through the 23.6% retrace as well as some resistance in the 128.00 range. We had options expiry on Friday, so I wasn't surprised that NFLX almost pinned the 125 strike. Futures are down as of this writing, so I'll watch for a pullback and see if NFLX can continue that upward momentum.
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