Assets move in 5 and 3's (Elliot wave simplified). From the macro view, it appears that we are in our 4th wave, and we have 1 more wave up to go. The leg of our bull pennant at minimum gives us a target of $681, which is confluent with the 1.146 fib.
If the stock market melts up and Netflix impulses, the Price target will be significantly higher!
Based on our Indicators, If the case is indeed bullish, we will bounce off the wolfpack baseline, and start another green streak. This leaves room for the RSI to go overbought one last time!
Overall, the chart is bullish, and a position should be taken once the breakout is confirmed. If a stock market crash was to occur, utilize the EMA's and support lines for positioning. The TA is overall optimistically favoring the long side!
If the stock market melts up and Netflix impulses, the Price target will be significantly higher!
Based on our Indicators, If the case is indeed bullish, we will bounce off the wolfpack baseline, and start another green streak. This leaves room for the RSI to go overbought one last time!
Overall, the chart is bullish, and a position should be taken once the breakout is confirmed. If a stock market crash was to occur, utilize the EMA's and support lines for positioning. The TA is overall optimistically favoring the long side!
Comment:
If you followed the analysis, congrats!!! :)
