Wednesday October 17th, 2018 by Mike Paulenoff NFLX is following the script we discussed before the open, but not the bullish one. My work argued that NFLX needed to hold support in the 380 area, which represents the upper boundary line of July-Oct. Coil Formation. A sustained press beneath 380 will point NFLX towards a test of its 20 DMA (359.02), which has occurred. So far, the 20 DMA appears to be containing the weakness off of last eve's post-EPS spike high at 405.00. All eyes on 359-360 during the PM session. The best case for NFLX will be a rally and close above 380. The worst case will be a close beneath 359.00... Last is 359.90-360.15Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial! * I really like Mike's charts and analysis. This is shared with my readers here via MPtrader.com *Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. Follow us and check back occasionally for additional articles or comments.