Tesla and Netflix Approaching Support! – Elliott wave Analysis
Tesla can be turning to the upside, because of a broken trend line connected from December of 2018 highs, which can also in days or weeks ahead become support for the upcoming wave (2) correction. Correction with three legs can be already in progress and can face support near the 220/200 area.
Netflix is in a similar situation, now unfolding final stages of a big three-wave A-B-C correction, with possible support near the 300/290 region, where Fibonacci ratio of 0.5 and 0.618 can react as a turning point.
Tesla, Daily
Netflix, 4h
As we know the S&P500 is also trading into a possible support, which can go hand in hand with Tesla and Netflix, so all three may see further bullish movements.
S&P500, Daily
Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.
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