The Closing Print live trading and financial blog during market hours.

We started positions in ETSY and NFLX, two examples of recent potential follow-through trades that have seen buying activity at a major support level. ETSY is also on the weekly watchlist.

ETSY looked very promising on Sunday when we chose it as a new potential trade adding to the watchlist for the week. It was a false starter on Tuesday. The stock witnessed buyers on the 21d on Wednesday. Price action caught our attention, so we’re swinging the position into today’s opening bell.

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RSI is above 50 and turning higher, so we’ll look for MACD to turn with price action today. A move above 79.00 is the first hurdle as overzealous bagholders likely got stuck there on Tuesday.

Look for volume to pick up. RVOL should be above 2.0.

Netflix (NFLX)

Netflix popped up on our radar as alerts started going off. The stock is off pre-market so the 50d is a stop.

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The volume started picking up as well, and above-average during the session. RVOL or relative volume was noticeable at the key 50d moving average. MACD will turn as a function of price as RSI heads towards 50.

While a reversal at the 50d alone is not a guarantee the stock would continue, price action on the 5 min chart confirmed a powerful reversal was being supported by interested traders and investors.

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The stock is trading 414.40 pre-market, so we have a profit and will take some off at the open if momentum reverses today.

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Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.

Investment Warnings

We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.

Live Sessions

Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned. 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. 

As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends. 

These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.