- NFLX broke weekly down channel
- Likely to rise to resistance level 1000.00
NFLX recently broke the resistance trendline of the weekly down channel from February, which enclosed the previous primary ABC correction 4, as can be seen below.
The breakout of this down channel accelerated the active impulse wave 1, which belongs to the primary upward impulse wave 5 from the start of April.
Given the clear daily uptrend, NFLX can be expected to rise to the next round resistance level 1000.00, top of the previous wave (B).
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Penafian
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.