NFLX Breakout Trade | MS Earnings Report 1-16-20

NFLX Netflix Inc Stock Chart 1-16-20

NFLX Netflix Inc Stock Chart 1-16-20

Very few perfect trades today from a reward potential point of view.

Many stock that meet the criteria do not justify the risk for the potential profits. I want to see stocks decline or consolidate before seeing higher probability of profits.

One trade setup I like today is NFLX. The consolidation above 338 with profit potential to 362 gives me some decent numbers to work with. Inside candle breakouts are one of my favorite plays as they lead to multiple days of trending volatility.

In other words large green or red candlesticks = fast money. There is a caveat to the play though. If the trade breaks lower and back into the range I plan to do nothing.

I'm a buyer and I need to see it trade higher before I enter. So that means I will be using a buy-stop order to enter the trade.

Have a great day!

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Morgan Stanley Earnings Preview:

Morgan Stanley (NYSE: MS) will release its Q4 and full-year 2019 results on Thursday, January 16.

The bank’s revenues would have marginally decreased year-on-year to $40.1 billion (slightly below the consensus estimate of $40.2 billion), primarily due to negative growth in investment banking and equity trading revenues.

Fed could use negative rates if US recession strikes, Goldman Sachs chief economist predicts

U.S. rate-setters could set negative interest rates in the future, despite their own current doubts about the risks of this unconventional measure, Goldman Sachs told CNBC Wednesday.

When central bankers implement negative interest rates, it means that banks, for instance, are paying to store cash. The idea behind it is to boost bank lending, push capital out to businesses, and stimulate the economy.

Pete Renzulli