Short-Sale Set Up - Revisiting Netflix (NFLX) 2/29/16
We last reported on Netflix (NFLX) as a short-sale set-up around the 110 level back in early January in one of our Pre-Market Pulse reports. Since then the stock has trended lower and is now rallying back into a shortable position once again. On the weekly chart, below, we can see a rally right up into the 10-week moving average at 97.18. This puts the stock in shortable range using the moving average as a guide for a tight upside stop. Notice also that the 10-week cross below the 40-week moving average four weeks ago creates a bearish "black cross." We are currently working a position in the stock.
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