Here is a trade we did on $NFLX. This is a stock that we have had on the blog for the last few days as a potential squeeze play. On Friday, right off the bat in the morning it broke out on the daily chart with an early morning spike. Now that the daily chart has shown a break of resistance, all we need to do is align a good intraday setup that gives us a low risk entry. Once the stock started to flag that’s when we enter.
- 250 shares at $71.15
- out 1/2 $71.90
- out 1/2 at 71.78
Then late day
- 300 shares at $71.95
- out 1/2 $72.4
- out $72.70 last 1/2
I give myself a B+ on the trade. The one thing I should have done on the first trade is get an earlier price and buy within the flag instead of the break of it.
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