NETFLIX INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 620.92 |
| Take Profit | 685.00, 730.00 |
| Stop Loss | 599.56 |
| Key Levels | 400.00, 457.77, 543.66, 685.00, 730.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 543.65 |
| Take Profit | 457.77, 400.00 |
| Stop Loss | 572.25 |
| Key Levels | 400.00, 457.77, 543.66, 685.00, 730.00 |
Growth is possible.
On the daily chart, the upward wave of the higher level C forms, within which the first wave (1) of C develops. Now, the fifth wave of the lower level 5 of (1) is forming, within which the wave v of 5 is developing. If the assumption is correct, the asset will grow to the area of 685.00–730.00. In this scenario, critical stop loss level is 543.66.
Main scenario
Long positions will become relevant above the level of 543.66 with the targets at 685.00–730.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 543.66 will let the price go down to the area of 457.77–400.00.
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