NETFLIX INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 625.00 |
| Take Profit | 680.00 |
| Stop Loss | 610.00 |
| Key Levels | 539.00, 540.00, 550.00, 600.00, 601.00, 615.00, 625.00, 680.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 601.00 |
| Take Profit | 539.00 |
| Stop Loss | 620.00 |
| Key Levels | 539.00, 540.00, 550.00, 600.00, 601.00, 615.00, 625.00, 680.00 |
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 at 615.00.
On the daily chart, the price is rising within the global channel with dynamic boundaries of 625.00–540.00.
On the four-hour chart, price consolidation above the previous year’s high of 600.00 confirms the high potential of the upward dynamics. Although the quotes are near the resistance level of 625.00, there are no markers of a reversal. However, the consolidation below the previous high of 600.00 will allow the price to correct to 550.00.
Technical indicators hold a buy signal: fast EMAs on the Alligator indicator are above the signal line, expanding 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 625.00, with the target at 680.00. Stop loss – 610.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 601.00, with the target at 539.00. Stop loss – 620.00.
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