Hey friends, Netflix reported positive earnings again for the first time in Q3 2022. What a coincidence, though, that the stock has been trending upward again for 162 days. The Netflix stock has gained almost 80% in value and the recently published quarterly figures seem to indicate that we have finally seen the bottom of the streaming giant.
Netflix has now completed its first five-part run with a high at around $288, but which can still easily extend to $300. After that, I expect a wave 2 sell-off to the 0.786 retracement at $190.23.
If the share rises sustainably in a wave 3, a price jump of at least 100% is possible! The wave 3 reaches at least the 1.618 extension at 394.14$ (107.41%)
So the next time at NFLX will be exciting!
Netflix has now completed its first five-part run with a high at around $288, but which can still easily extend to $300. After that, I expect a wave 2 sell-off to the 0.786 retracement at $190.23.
If the share rises sustainably in a wave 3, a price jump of at least 100% is possible! The wave 3 reaches at least the 1.618 extension at 394.14$ (107.41%)
So the next time at NFLX will be exciting!