After its 20% Correction, NFLX Appears Ripe for a Repair Rally

NFLX-- my nearer term work is starting to "warn us" that all of the action off of the May all-time high at 423.58 through the earnings debacle to a corrective low at 342.00 on 7/16 (-19%, which is not that much less than the FB haircut), followed by basing type of price behavior indicates NFLX is positioned for a sharp burst of strength that hurdles the still-up-sloping 50 DMA, now at 375.85, towards a test of important resistance that hovers at 395.00-400.00.

Although such a burst of strength ultimately may prove to be a recovery rally within a larger-developing range-bound corrective period, the current set-up is still worthy of consideration for a short term trade... Last is 362.87-363.05

7 26 18 NFLX 4 hr 2 P GIF
7 26 18 NFLX 4 hr 2 P GIF

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