Netflix has been in a downtrend for the past 3 weeks (21 days)
It has finally broken the trendline at the $600 price level and at the time of analysis we are sitting around the $615~$610 price level.
If we can get a pullback back to the structural level at the $605~$600 price level that would be a validate the entry to take this trade to the long side.
Confirmations:
Break of trendline
Bounce off Dynamic Demand
Whole number (600) = Key level
Targets:
Take profit 1: 630
Take profit 2: 650
Take Profit 3: 680
It has finally broken the trendline at the $600 price level and at the time of analysis we are sitting around the $615~$610 price level.
If we can get a pullback back to the structural level at the $605~$600 price level that would be a validate the entry to take this trade to the long side.
Confirmations:
Break of trendline
Bounce off Dynamic Demand
Whole number (600) = Key level
Targets:
Take profit 1: 630
Take profit 2: 650
Take Profit 3: 680