Whatever the merits or faults of the count I have attached to this Netflix chart, I have little doubt that many US tech stocks are near or at the end of a very good run. The similarities between all asset charts that have experienced parabolic rises is uncanny. This is a totally bearish count and calling tops usually ends in tears so it will probably be wrong. However, assuming I am wrong, I really don't think there are many more legs up for this stock on the horizon with the daily chart tracing out what is possibly an ending diagonal.
Note
Netflix rolling over along with the rest of tech or just a correction in an uptrend. Not sure yet.
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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.