NFLX/TSLA update May 20

NFLX: Daily chart suggest a bounce is underway as all TIs are pointing up. red box shows ideal target zone.

nflx 1

Weekly chart shows a different count with primary IV instead of major 4 underway. In the primary IV case we see price drop to $60-70ish. Currently the long term black trendline is holding as support. as long as price remains above it, the bears will have a hard time pushing it lower.

nflx 2

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TSLA: Either intermediate a of major c bottomed and intermediate b is underway targeting around $230-$240, which is also where the 50d SMA resides, or intermediate a is still developing with now with 4 of a underway. In the latter case, price can go to ~$222, which is the typical 38.2% retrace of green “/3”. if it goes higher we’ll use the intermediate a label at the recent low instead. that’s all there is to it for now. Longer term: lower prices. Ps: note how price find exactly support at the black trend line and key $202 level! picture perfect. No wonder Goldman came out with a buy right there and then….

tsla