NETFLIX INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 442.82 |
| Take Profit | 317.75, 287.25 |
| Stop Loss | 485.90 |
| Key Levels | 287.25, 317.75, 485.90, 545.00, 600.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 485.95 |
| Take Profit | 545.00, 600.00 |
| Stop Loss | 466.25 |
| Key Levels | 287.25, 317.75, 485.90, 545.00, 600.00 |
A fall is possible.
On the daily chart, a downward correction of the higher level develops as the wave B, within which the wave (B) of B ended, and the development of the wave (C) of B started. Now, the entry first wave of the lower level 1 of (C) is forming, within which a local correction has formed as the wave ii of 1, and the wave iii of 1 is developing. If the assumption is correct, the price of the asset will fall to the area of 317.75–287.25. In this scenario, critical stop loss level is 485.90.
Main scenario
Short positions will become relevant below the level of 485.90 with the targets at 317.75–287.25. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 485.90 will let the asset grow to the area of 545.00–600.00.
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