NETFLIX INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 465.00 |
| Take Profit | 483.00 |
| Stop Loss | 460.00 |
| Key Levels | 320.00, 445.00, 453.00, 455.00, 460.00, 483.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 445.00 |
| Take Profit | 320.00 |
| Stop Loss | 455.00 |
| Key Levels | 320.00, 445.00, 453.00, 455.00, 460.00, 483.00 |
Shares of Netflix Inc., an American entertainment company, as well as a streaming service for films and TV series, are moving in a corrective trend around 453.00.
On the daily chart, the price retreated from the yearly high of 483.00, preparing to retest it.
On the four-hour chart, the potential for upward movement remains high, which is confirmed by the local Diamond reversal pattern with a sales level of 460.00. Despite the decline, there are no markers indicating a trend reversal yet but it will become possible after the asset consolidates below the current low of 445.00.
Technical indicators hold a buy signal: fast EMA on the Alligator indicator are above the signal line, narrowing the range of fluctuations, and the AO histogram forms corrective bars in the buy zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 465.00 with the target at 483.00. Stop loss – 460.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 445.00 with the target at 320.00. Stop loss – 455.00.
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