Shares of Netflix Inc (NFLX) are ending the year with an epic run. Just in the last week, shares of Netflix have surged from $290 to their current $332. That is a move of 15%. While many investors think the momentum in Netflix is a rebirth, smart swing traders are circling patiently, waiting for a major technical level to hit, then short it. The major stock chart technical level is at $336. This is a gap window as well as former major pivots stretching back to June 2019. Swing traders can jump on the short at $336 and ride it down within days to $318. This is one of those beautiful traders that is high reward and low risk. Once the technical chart level is triggered, it should play out in just a few days for an easy profit.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.