NETFLIX (NFLX): Time BUYing or SELLing ACTION?
Stocks move a bit differently than Cryptos. Their five wave impulse moves are slow while the corrections are swift...quite the opposite from Cryptos since their vertical moves are impulsed and corrections are very slow; eg the Hurry Up & Wait syndrome.
Here is Netflix. Just from the below weekly chart showing the five waves up being complete; if not almost; and the MACD being so OVERBOUGHT....would now be the best time to be BUYING or taking PROFIT SELL actions? What do you think? What message is this chart screaming?
Elliott Waves states that after five waves up, there is a requisite correction. As written above, equity corrections are very quick and swift. I've drawn in a projected ABC correction that has the potential to swiftly take Netflix to a correction territory.
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?