OptionsPlay DailyPlay

The bearish DailyPlay we chose for Friday May 13th is Netflix (NFLX). NFLX is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 4.83% move lower and its 1m and 6m trend turned bearish on 5/3 while bouncing lower off its $43 resistance level.

Netflix’s 1m and 6m trends turned bearish on 4/19 and recently broke below its $90 minor support level on high volume. With a technical score of 2 (out of 10), NFLX looks positioned to continue this bearish trend lower.

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