NETFLIX INC.: WAVE ANALYSIS
| Scenery | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry point | 675.04 |
| Take Profit | 750.00, 800.00 |
| Stop Loss | 622.90 |
| Key levels | 490.00, 540.00, 622.90, 750.00, 800.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry point | 622.85 |
| Take Profit | 540.00, 490.00 |
| Stop Loss | 650.45 |
| Key levels | 490.00, 540.00, 622.90, 750.00, 800.00 |
The probability of growth remains.
On the daily chart there is a construction of an ascending wave of the upper level C, in which the first wave (1) of C continues. At this moment, a third wave of the lower level 3 of (1) is forming, which forms wave v of 3. If the assumption is correct, then the price of the asset will rise in the area of 750.00–800.00. The critical stop-loss level for this scenario is 622.90.
Main stage
Long positions are relevant above the level of 622.90 with targets of 750.00–800.00. Implementation period: 7 days or more.
Alternative scenario
The breakout and price fixing below the 622.90 level will allow the asset price to continue declining in the 540.00– 490.00 area.
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