Netflix has made a very nice and strong rebound so far from the 74 area after it briefly moved below 82, which we highlighted before as a key level from the previous wave four back in April 2025. What is important now is that this recovery can extend further. Because, even if this is wave four, keep in mind that wave four is corrective, meaning it should unfold in at least three waves, and so far we can only see wave A from the low. Therefore, after a wave B pullback, we could expect more upside with a push toward the 100 level. In such case support is also seen around the unfilled gap from late February near 85.
So as long as the market stays above 74.88, there is a good chance for further gains. However, the bullish view will only be confirmed with a break of the trend line resistance around 109.
Highlights
. Strong rebound from 74 after false break below 82 support
. Wave four recovery in progress, more upside possible after wave “b” pullback
. Resistance to watch near 109 trendline
. Support at 85 gap zone, key invalidation at 74.88
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