{"id":1184,"date":"2019-08-20T11:57:45","date_gmt":"2019-08-20T16:57:45","guid":{"rendered":"https:\/\/www.caribbeanvalueinvestor.com\/news\/?p=1184"},"modified":"2020-01-22T05:21:08","modified_gmt":"2020-01-22T10:21:08","slug":"netflix-hits-our-buy-target-40-upside-here-is-the-trade-in-detail","status":"publish","type":"post","link":"https:\/\/www.caribbeanvalueinvestor.com\/news\/technical-analysis\/netflix-hits-our-buy-target-40-upside-here-is-the-trade-in-detail\/","title":{"rendered":"Netflix hits our buy target! 40% upside, here is the trade in detail!"},"content":{"rendered":"
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Exactly one month ago I published an article about three stocks to follow, describing their setups,\u00a0here<\/a>. Today I want to revisit one of those stocks as they have finally hit our expected target. The company in question is Netflix. I wrote in detail how I would trade it, a technique called laddering. I bought a position at 316$, enabling me to have some shares should the stock rally.<\/p>\n

30 days ago<\/h4>\n

The first chart I\u2019ll show is from 30 days ago. As you can see, we have four touches on our two-year-long support line, where our new buy zone is lined up. The main goal here would be to buy at support. Notice how the RSI (purple oscillator at the bottom) formed a resistance, reassuring us the trend is bearish.<\/p>\n<\/div>\n

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Today<\/h4>\n

“If the price keeps dropping and hits my buy zone (marked with a green rectangle), I’ll double down. At this point, I set a stop-loss somewhere under the support.” – was our statement\u00a0last month! As you can tell the price continued to drop and hit our target like planned. Our next move is to take a position here with the first target being resistance (27%).<\/p>\n

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