NETFLIX
Updated
NETFLIX falsely broke the growing channel it had been building since the bounce.
Subsequently, it lured many impatient bears into short positions, and the subsequent strong rally from $300 is thus parasitizing to liquidate their short positions.
I expect a real rejection from the $500 area.
Invalidation is on a strong break above $500 and testing as support.
Subsequently, it lured many impatient bears into short positions, and the subsequent strong rally from $300 is thus parasitizing to liquidate their short positions.
I expect a real rejection from the $500 area.
Invalidation is on a strong break above $500 and testing as support.
Note
Netflix is entering the danger zone.
Note
It seems that the big players have just sold, but we have to wait for a possible channel breakout.
Because the behavior of people in the market is rather strange, in July 2022 they sold it in fear at $180 support, and in July 2023 they are able to greedily buy it back under resistance.
Note
Netflix is trying to keep the channel but I think sooner or later it will be lost.
Subsequently, I expect to enter phase C.
Note
Netflix has dropped out of the channel and is currently testing it, if rejected from this area there is a high probability of the start of a decline.
Note
Netflix, exactly where I expected (or rather, where Mr. Wyckoff expected it), has so far refused to re-enter the channel.
Note
The May fake rally will be deleted soon.
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