After quite a slide in NFLX over the past two weeks, it looks like the buyers may have stepped back in. The chart looks great – strong trendline support with volume bounce off SMA50. We’re also testing the highs put in back on December 1st. I think we’ll see a short squeeze from all of the those bears thinking NFLX is about to crash below SMA50. If this does play out, watch the multiple MA resistance levels just above. I’m interested above EMA20 with a possible position add above SMA20. My likely approach, however, will be to look for April 228+- Calls. Let’s see how the market treats us in the morning.
