NETFLIX INC.: WAVE ANALYSIS

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NETFLIX INC.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point579.49
Take Profit457.77, 400.00
Stop Loss637.62
Key Levels400.00, 457.77, 637.62, 685.00, 730.00
Alternative scenario
RecommendationBUY STOP
Entry Point637.65
Take Profit685.00, 730.00
Stop Loss621.85
Key Levels400.00, 457.77, 637.62, 685.00, 730.00

A fall is possible.

On the daily chart, the upward wave of the higher level C develops, within which the first wave (1) of C forms, and a downward correction started as the second wave (2) of C. Now, the wave А of (2) is developing, within which the first wave of the lower level i of A has ended, and a local correction is developin as the second wave ii of A. If the assumption is correct, the price of the asset will fall to the area of 457.77–400.00. In this scenario, critical stop loss level is 637.62.

NETFLIX INC.: WAVE ANALYSIS

NETFLIX INC.: WAVE ANALYSIS

Main scenario

Short positions will become relevant below the level of 637.62 with the targets at 457.77–400.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 637.62 will let the price grow to the area of 685.00–730.00.


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