Monday October 22nd, 2018 by Mike Paulenoff NFLX Revisited-- last Thursday (10/18), in my last chart post about the stock, this is what we discussed: Fang Focus-- NFLX-- bottom line: if NFLX presses below 341.00 before turning up again, the pattern off of its post-EPS spike-high at 405.00 will argue that the stock put in a "good news, sell-the-news," Bull Trap high, and is heading due south across the its original June-Oct. coil formation, which will imply downside continuation towards 320 to 310 (if it presses beneath 341.00). As long as 341.00 support remains intact and viable, my pattern work will give the benefit of the doubt to another loop up to revisit 385 to 405... Last is 352.87-353.01 Fast-forward to today, and we see NFLX indeed, has continued due South, has sliced beneath 341 to a post-EPS low at 320.34, and points towards a full-fledged test of it prior pivot low at 315.81 from 10/11/18). We can confirm that NFLX up-spike to 405.00 in reaction to earnings on 10/16 proved to be a vicious Bull Trap secondary high, followed by an ugly downside reversal that is threatening to plow through critical support at 310-315, which if violated and sustained, will "lock in" a May-October top formation... Last is 237.62/75Mike 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.