Netflix: Trading Sideways as Correction Nears Target Zone

Netflix initially dipped slightly before settling into a sideways trading pattern. There remains a 33% probability that a new high for turquoise wave alt.3 could develop above resistance at $1,341. However, our primary outlook suggests that turquoise wave 4 will carve out its low in the turquoise Target Zone between $961.52 and $843.96, at which point it should hand off to wave 5—which should drive gains above the $1,341 level.