Netflix: Key Support Zone in sight

Netflix shares have continued to decline since our last update. We have now provided additional detail on the ongoing turquoise wave 4, which is subdivided into a magenta three-part structure. Within this structure, wave [c] is expected to push price further down into the turquoise Target Zone, between $962.77 and $845.22. The low point of the larger wave 4 is anticipated within this range. Only after reaching this level should wave 5 drive price back above the $1,341 mark. As such, the turquoise Target Zone presents long entry opportunities, which can be protected with a stop set 1% below the lower boundary of the zone. However, if price rises directly above the aforementioned resistance at $1,341, our alternative scenario would be triggered, and we would initially need to prepare for a higher wave alt.3 top (probability: 30%).