Chart of the day

Where do we stand fundamentally?

NETFLIX adjusted its business substantially as they customer base was shrinking and it is increasing recently along with their content which is improving. This is all supporting the stock price increase.

NFLX is testing 688 resistance for a strong breakout higher in the fifth wave to target 800 and possibly higher. A support and an invalidation of the immediate continuation higher is 640.

An invalidation level of a fifth wave long-term extension higher and a bullish cycle is 600. As said this extension higher could lead to 800 target in the medium-term to long-term if we get a confirmed break above 700.

_{Try a long trade entry with a stop loss below 630 to target 800 and higher.}