Bearish DailyPlay for Tuesday Dec 12th, 2017 – Netflix (NFLX)
The bearish DailyPlay we chose for Tuesday Dec 12th is Netflix (NFLX). NFLX is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 5.87% move higher and its 1m and 6m trend has turned bullish on 11/3 and momentum indicators are overbought.
Netflix’s 1m and 6m trends turned bearish and neutral on 11/29 and recently bounced lower off its $190 resistance level. With a technical score of 8 (out of 10), NFLX is a strong stock that has topped and starting to trend lower.
As a stop loss, if NFLX was to trade above $190 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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