Get started

Neutral

NFLX Low Risk Short PositionNFLX has been trading in a range for many months, as we can see by this weekly chart here: Stochastics on the daily chart are showing it as heavily overbought, with an RSI of about 85, likely in anticipation of earnings which come out in 6 days. Historically, NFLX sells off about 80% of the time post earnings, usually quite steeply, with an average sell-off of between $50-60 dollars within the week that follows earnings. Here's a daily chart with stochastics visible: Barring a few temporary outlying moves to the outer extremities of its range, I believe NFLX will either: 1) Push up towards and then reject at the $566 level and then retrace back down towards $515.00 post earnings. 2) Falter post earnings and retrace to more "typical" RSI and stochastic levels prior to earning hitting. 3) (Hopefully not) push outside its trading range (difficult to imagine this scenario actually happening) and form new highs above its existing range. I am currently in an Iron Condor on NFLX with 570 and 490 short strikes. It is leaning bearish at the moment, but a move back down downwards 515 and a crush of implied volatility will substantially help my position. I believe both are likely to happen in the current market environment. -------------- If you were to enter NFLX short, you might consider it around the $566 level, assuming it pushes that high. You could accomplish this with a call credit spread which would give you the benefit of IV crush, assuming volatility decreases (which it would, if the price fell off steeply.) You could also take a bearish debit spread, but that will struggle with volatility collapse as it's a BTO position. ------------- Whatever happens, I'll be curious to watch NFLX as it develops. I do not think it's current price behavior is sustainable.
NASDAQ:NFLXShort
by PureDelta
4
AUDUSD - Neutral Pre Powell TestimonyAUDUSD has consolidated below support at 0.786 as the US dollar has strengthened across the board. Additionally, the Australian dollar has weakened due the impact of covid as cases have risen resulting in Sydney extending it's recent lockdown. If Powell indicates in his testimony later today that the FED are likely to raise rates sooner than expected by the market this could lead to a sharp drop in the currency pair. The next support level is as it 0.71 which if breached could lead to prices challenging the psychological 0.7 level. Therefore at this stage we hold a neutral AUDUSD view as we await significant price action and major announcements to enable us to form a directional view.
by KQMarkets
What to expect from TATAMOTORS.NSE:TATAMOTORS After Sluggish/consolidated move from 8th Feb 2021 and few test to the resistance level of 351 we did see good down move with good efforts in last week from same level, one can say due to the negative news of JLR results. Which was not expected at least by me. So what to expect from here in TATAMOTORS, well not matter what kind of news cause this effect on TATAMOTORS chart but as far as CANDLE formation and kind of efforts it got its clearly indicating supply in here. If we see follow through selling and breakdown to the level of 280 swing and short term traders must get out of this counter. In closing below 280 will take TATAMOTORS deeper towards the level of 200. And if we don’t see any follow through selling and rather we see bounced back from here we must have to wait for breakout to the level of 351 to make any fresh positions in this counter. Bounce back can also be expected coz on daily chart we are not seeing good follow through selling as price range is narrowed and volume is also drying out. Check the chart below. Conclusion one can wait and watch only those who have holding any position right now don’t though them out till closing below 280. And swing and short term traders who are looking for fresh positions in this counter prefer to wait for a breakout of 351. Long term investors don’t need to worry here. Any stopping or sign of reversal can be good opportunity for averaging. || Hari Om || || Ambadnya ||
NSE:TATAMOTORS
by PriceVolumeRider
2
DXY UPDATEDXY finds itself on a weekly trendline that acted as resistance previously and now the price had its first reaction to it. Only time will tell if it will manage to send the price back down or not. A weekly close above the 93.012 can act as good indication that the Dollar can go higher, at least to 94.50 and maybe even higher. And a weekly close below the 91.81, can act as a good indication that it will test previous levels, like to the trendline acting as support, or maybe even lower than that. Either way, there will be a nice opportunity to take advantage. Patiently waiting.
INDEX:DXY
by ITS-BENG