Elliott Wave Analysis of NFLX
In this comprehensive Elliott Wave analysis, we assess Netflix Inc. (NFLX) using both daily and 1-hour timeframes to evaluate current wave formations and forecast likely price trajectories.
Inc. NFLX Elliott Wave Analysis – Daily Chart
NFLX Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave 3 of (5)
Direction: Upward Trend in Wave 3
Details: Netflix’s price movement indicates potential further upside after a leading diagonal in wave 1 and a sharp retracement in wave 2, setting the stage for a stronger rally in wave 3.
NFLX Elliott Wave Technical Analysis – Daily Chart
On the daily chart, Netflix is positioned in wave 3 of (5) within a broader impulsive pattern. Having completed a leading diagonal in wave 1, followed by a sharp correction in wave 2, we now look for further upward momentum in wave 3, which is characteristically the most extended and dynamic wave within an impulsive sequence.
Netflix Inc. (NFLX) NFLX Elliott Wave Technical Analysis – 1-Hour Chart
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (b) of {ii}
Direction: Downward Correction in Wave (c)
Details: Anticipating a downward move in wave (c) of {ii}, with a potential bottom around $735, which aligns with wave (c) reaching parity with wave (a) as the triangle pattern in wave (b) nears completion.
NFLX Elliott Wave Technical Analysis – 1-Hour Chart
The 1-hour chart indicates that NFLX is nearing the end of a triangle pattern in wave (b) within wave {ii}. A decline in wave (c) of {ii} is projected, with potential support near $735, where waves (c) and (a) could achieve parity. Following the completion of wave {ii}, bullish sentiment may dominate again, with momentum building in wave {iii}.
Technical Analyst: Alessio Barretta
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See Previous:Mastercard Inc. (MA) Elliott Wave Technical Analysis
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