"The daily momentum squeeze is starting to shift. Netflix has been building this base for weeks, holding key support levels even when the broader market wanted to roll over." Nate Bear, Lead Technical Tactician, Monument Traders Alliance Friday was one of those brutal morning sessions where nothing wanted to work. The indexes were heavy, risk-off sentiment everywhere, and most names just got dragged lower. The Real-Time Discovery While scanning through charts Friday morning, Netflix caught my attention. Not because it was ripping higher — it wasn't. It was actually getting pressured along with everything else. But here's what made me stop: The daily momentum squeeze is starting to shift. Netflix has been building this base for weeks, holding key support levels even when the broader market wanted to roll over. And then I remembered — this thing has a 10-for-1 split coming November 17th. Why This Setup Works This is what I did on Friday: bought the November 21st 1175/1200 call debit spread for $3. Risk: $300. Max gain: $2,200 if Netflix closes over $1,200 at expiration. The key level I'm watching? 1105. If Netflix can break above that level, it opens the door to the 1135 area, which is right where it was trading after the split announcement. Beyond that, there's significant room to run. The Technical Picture | 
0 Response to "The Split Play Setting Up While Markets Tank"
Post a Comment