Netflix stock price has set up a compelling swing long gambit. All the news over the last month about how Disney’s and Apple’s streaming video services are going to be so much better than Netflix has pushed the stock down to an interest swing long level.
If we look at the 5 year chart of NFLX stock, we see that the stock is testing a critical 5 year support trend line.
If we get a break below $260 on Netflix stock, that would be bearish but as long as Netflix stays above that level, we could see a nice swing long move off trendline support.
Netflix does not meet the minimum requirements for inclusion in the long-term, buy and hold GST Portfolio; however, readers may be able to profit from a short-term swing trade setup.
Disclosure: We do not hold any position in Netflix stock.