Netflix At $700 Is 'Feasible' In A 'Short Period Of Time'

Nic Chahine was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.

Create Income With Options Spreads Author Nic Chahine discussed Netflix, Inc. (NASDAQ: NFLX) on the show.

“You cannot short Netflix,” according to Chahine, as he noted having been long on the company since the low $100s based on its fundamental global growth story.

Chahine added that with continued international growth, the stock was currently on top of a breakout and that $700 was a “very feasible” price target in “a very short period of time.”

Chahine noted that the technical breakout was supported by fundamentals and there was “no way” he would short the stock, especially with the company’s opportunity in pursuing the Chinese market.

Netflix recently traded at $617.66, down 0.03 percent.

Listen to the show here: