EvanMedeiros

basing out intraday trying to catch its footing

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BATS:NFLX   Netflix, Inc.
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$NFLX Started with a bang today popping into the 220s level right out of the gate. From there gravity did its thing sinking it over $10 to 210. It retested that level later in the afternoon making a new low on the day but saw no follow through and pushed off it creating a nice tradeable double bottom. Mini support around this 215 level, below that is 213 and then todays lows. Target for longs is that 220 level and above there it can really get going back into 225-230 range. I like it here to the long side so long as mr market can cooperate.

Evan Medeiros
Founder, Trade Risk
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Website: www.thetraderisk.com
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