NFLX Bearish Divergence 65m

19 Mar 2022

NFLX 65m chart looking very bearish, following SPY bearish price action nicely. On a break of the uptrend or failing the .382 retracement level, should see a decent pullback. This is to be expected after the nice falling wedge breakout as well.

NFLX

19 Mar 2022

Not

Current trade of mine. I played the bull side on the breakout of the Falling Wedge and will be entering a bear side trade soon. Tried to use better data callouts so it was easier to read.

Chart Event: Bearish RSI-MACD Hidden Divergence on the 65m chart.

Confluence: Seems to be consolidating on the 38.2% retracement level representing a zone of resistance. MACD narrowing, RSI in oversold territory.

Trade Idea: Put swings (shorter term)

Contract Suggestions (higher risk):
Best: 4/14/22 365P @ 10.20
Risky: The above is fairly risky. I don't like the volume and open interest on any of the other shorter expiration contracts. However, if one wanted to treat this as essentially a lotto: 4/1/22 370P @ 7.45

22 Mar 2022

Not

This paid nicely today, trimmed most of my 4/14/22 365 puts @ 14.00

23 Mar 2022

Not

This is no longer in play. Got the move I wanted. Now we may be shifting to a bullish position.