NETFLIX INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 627.94 |
| Take Profit | 670.00, 730.00 |
| Stop Loss | 588.50 |
| Key Levels | 440.25, 501.20, 588.50, 670.00, 730.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 588.45 |
| Take Profit | 501.20, 440.25 |
| Stop Loss | 617.55 |
| Key Levels | 440.25, 501.20, 588.50, 670.00, 730.00 |
Growth is possible.
On the daily chart, a downward correction of the higher level ended as the wave B, and the upward wave C forms, within which the first wave (1) of C develops. Now, the fifth wave of the lower level 5 of (1) is developing, within which the wave iii of 5 is developing. If the assumption is correct, the asset will grow to the area of 670.00–730.00. In this scenario, critical stop loss level is 588.50.
Main scenario
Long positions will become relevant above the level of 588.50 with the targets at 670.00–730.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 588.50 will let the price fall to the area of 501.20–440.25.
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