Netflix Stock: NFLX is offering a low risk stock trade entry
Understanding support and resistance is critical in trading stocks and options. If you can spot areas of support (where buyers come in and buy/support the stock) and determine areas of resistance (where traders begin to sell the stock and resist it from going higher) then you can confidently set stops and set realistic profit goals.
In this video I walk you through my outlook on Netflix. At the time of this recording it is sitting at a definitive support level and bouncing (trader’s are buying) signaling there may be more upside potential but I also break down what I like to call my “I’m wrong level” and that is where you set your stop loss.
Are you trading Netflix? Do you use support and resistance in your trading? Let me know I’d love to hear from you so leave a comment below.