Swing traders love momentum, and earnings gives us plenty of it.
Earnings setups offer strong reward to risk.
Stocks often move outside of what the overall market is doing because of the stocks specific news
Netflix reported earnings after the close today and is currently down a few points even after posting strong overall numbers, most likely due to concern over the companies forward looking guidance. These initial reaction often do not predict the future move of the stock. For that reason we must formulate an adaptive plan based on key support and resistance levels.
In today’s video I show you the plan for Netflix. I go over the key support and resistance levels, potential long and short setups, along with how to think about risk analysis for this stock.
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