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Netflix ( NFLX) is an Internet subscription service streaming television shows and movies. This stock is trading up 3.6% at $83.91 in recent trading.

Today's Volume: 3.5 million Average Volume: 5.1 million

Volume % Change: 50%

>>5 Stocks With Huge Insider Buying

From a technical perspective, NFLX is ripping to the upside here off some near-term support at $79.53 with decent volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit once NFLX takes out some near-term overhead resistance at $85.40 with high volume.

Traders should now look for long-biased trades once NFLX sustains a move or close over $85.40 with volume that's near or above 5.1 million shares. If we get that action soon, then NFLX has a great chance of re-testing and possibly taking out its 200-day moving average of $92.02. On the flipside, I would avoid NFLX or look for short-term short-biased trades if it moves back below that near-term support at $79.53 with high-volume.

Netflix, one of the 10 Worst-Performing S&P 500 Stocks in the Second Quarter, also shows up on a list of 6 Sucker Stocks to Avoid at All Costs.

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