What’s Changed?
Since our last update, Netflix stock initially dipped further into our blue Long-Term Entry Range ($96.27–$75.19), but then rebounded to the upper edge of that range.
Primary Scenario
We continue to view NFLX as being in a major correction, so we expect more significant sell-offs over the long term. However, the price should see a temporary recovery first, as it recently established a more pronounced low within our blue Long-Term Entry Range ($96.27–$75.19). After a move above the Entry Range ($96.27–$75.19), we anticipate further declines.
Alternative Scenario
In our alternative scenario, NFLX may have already established a long-term low within our blue Long-Term Entry Range ($96.27–$75.19). In this case, the price would continue rising immediately and initially break through resistance at $114.14 and $134.12 (probability: 25%).
Since our last update, Netflix stock initially dipped further into our blue Long-Term Entry Range ($96.27–$75.19), but then rebounded to the upper edge of that range.
Primary Scenario
We continue to view NFLX as being in a major correction, so we expect more significant sell-offs over the long term. However, the price should see a temporary recovery first, as it recently established a more pronounced low within our blue Long-Term Entry Range ($96.27–$75.19). After a move above the Entry Range ($96.27–$75.19), we anticipate further declines.
Alternative Scenario
In our alternative scenario, NFLX may have already established a long-term low within our blue Long-Term Entry Range ($96.27–$75.19). In this case, the price would continue rising immediately and initially break through resistance at $114.14 and $134.12 (probability: 25%).
📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.