Netflix: ⬇️ Sell
– Netflix broke key support level 70.00
– Likely to fall to support level 64.70
Netflix recently broke below the key support level 70.00, which previously stopped wave (b) at the end of July and wave (i) in the middle of September, and which is located inside the daily down channel from the start of May.
The breakout of this support level accelerated the active impulse wave (iii) of wave iii, which belongs to the downward impulse wave 3 from the start of September.
Given the strong daily downtrend, Netflix can be expected to fall further toward the next multi-month support level 64.70 – which stopped wave 1 in the middle of July.