NETFLIX INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 707.00 |
| Take Profit | 743.00 |
| Stop Loss | 700.00 |
| Key Levels | 630.00, 637.00, 686.00, 695.00, 700.00, 707.00, 710.00, 743.00, 754.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 686.00 |
| Take Profit | 637.00 |
| Stop Loss | 700.00 |
| Key Levels | 630.00, 637.00, 686.00, 695.00, 700.00, 707.00, 710.00, 743.00, 754.00 |
Shares of Netflix Inc., an American entertainment company and a streaming service for movies and TV series, are trading at 695.00.
On the daily chart, the corrective dynamics are developing within an ascending channel with dynamic boundaries of 754.00–630.00.
On the four-hour chart, the probability of growth has increased after breaking the resistance line of the range of 686.00–653.00 and reaching 695.00. After consolidating above the annual high of 710.00, an increase to 740.00 may follow.
Technical indicators are holding the buy signal: fast EMAs on the Alligator indicator are above the signal line, expanding the range of fluctuations, and the AO histogram is forming ascending bars in the buy zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 707.00, with the target at 743.00. Stop loss — 700.00. Implementation period: 7 days or more.
Short positions may be opened after the price falls and consolidates below 686.00, with the target at 637.00. Stop loss — 700.00.
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