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10d • Stocks 📈
Stock Update: Netflix
Date: 06/02
As discussed in our previous post we were expecting Netflix to drift down from its highs of around 130 into the 82 - 80 range.
Netflix is now playing at 80.87 and has presented us with a good risk to reward to enter for trading as well as investing purposes. The top of Wave 1 sits at 69.42 which will be our stop loss for all longs that we are entering at this level. For our count to remain valid Wave 4 cannot overlap with this point AT ALL.
Entering here with a minimum target 133.8 gives us a solid 1:6 ratio and a crazy 66% gain on the upside making it a perfect trade as well as investment entry.
Do keep in mind though that our stop loss of 69.42 must be followed strictly for all longs as below this we will have to re - analyse our wave count as the correction could get deeper pretty quickly.
Charts shared below
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Stock Update: Netflix
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