Shares of Netflix Inc., an American entertainment company and streaming service for movies and TV series, are trading at 561.00.

The price is in a correction and a fall is possible.

On the daily chart, a downward correction of the higher level ended as the wave B, and the upward wave C develops, within which the first wave (1) of C formed. Now, a local correction has started as the second wave (2) of C, within which the wave А of (2) forms. If the assumption is correct, the price of the asset will fall to the area of 457.77–400.00. In this scenario, critical stop loss level is 637.62.