NFLX fell off a cliff following some bad FA news. The sentiment around the stock is pretty bearish given this, and there has been tons of bearish articles that have come out, but I think this could be a fantastic buying opportunity as it is close to its 100 weekly moving average, which held the price on the previous drop back in October-November of 2018. High risk per usual given the bad news recently among other factors (such as increasing competition.) If price has a weekly close below the 100 week MA, we will most likely be eyeing the 200 weekly MA as the next potential reversal point.
Entry: 303-320
Target 1: 50 week moving average (currently around 338.)
SL: Weekly close under the 100 week MA.
Only focusing on 1 target for now as need to see price develop over the next few days and weeks to get a better idea of whether or not this will rebound back toward that 360-370 level.
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