OptionsPlay DailyPlay

The bearish DailyPlay we chose for Monday February 22nd is Netflix (NFLX). NFLX is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 3.15% move higher but it’s 1m and 6m trends turned bearish and testing its $41 minor resistance level.

Netflix’s 1m and 6m trends turned bearish on 12/18 and recently bounced lower off its $97.50 resistance level on high volume. With a technical score of 2 (out of 10), NFLX looks positioned to continue this strong bearish trend lower.

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