Netflix might be on its way into another solid rally
Yesterday's breakout above the VCP setup and the stock's close near its day highs could potentially signal a renewed up trend after a long consolidation period.
The VCP build up and breakout comes after the stock successfully traded above its 200 day MA for over 6 months.
With a stop below yesterday's low (more aggressive stop) or the most recent higher low (more conservative stop), long traders could be looking at a good gain here.
Call options could be another way to trade this as NFLX emerges out of a volatility contraction setup.
The VCP build up and breakout comes after the stock successfully traded above its 200 day MA for over 6 months.
With a stop below yesterday's low (more aggressive stop) or the most recent higher low (more conservative stop), long traders could be looking at a good gain here.
Call options could be another way to trade this as NFLX emerges out of a volatility contraction setup.
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