NFLX Elliott Wave Analysis – Technical Outlook and Forecast
In this Elliott Wave analysis, we will examine the trend structure of Netflix Inc. (NFLX) using both the daily and 1-hour charts, aiming to evaluate the current wave position and anticipate potential price movements.
Netflix Inc. (NFLX) Elliott Wave Analysis – Trading Lounge Daily Chart
NFLX Technical Analysis Summary:
Function: Counter Trend
Mode: Corrective
Structure: Flat
Current Position: Wave 4 of (5)
Expected Direction: Upside in wave 5
Analysis Details:
A potential bottom in wave {c} of 4 may have formed, indicating the corrective phase could be nearing completion. If confirmed, the price is expected to advance higher toward Trading Level 1 at $1000, marking the beginning of wave 5.
NFLX Elliott Wave Technical Analysis – Daily Chart
We are closely observing a potential bottom formation in wave {c} of 4, suggesting that the ongoing corrective phase might be concluding. If this bottom is confirmed, the next anticipated move is an upward trajectory targeting Trading Level 1 at $1000, aligning with the continuation of the impulsive wave 5 cycle.
Key Takeaways:
- Potential bottom in wave {c} of 4
- Upside projection toward $1000 target
- Expected continuation in wave 5 if bottom holds
NFLX Elliott Wave Technical Analysis – Trading Lounge 1-Hour Chart
NFLX Technical Analysis Summary:
Function: Counter Trend
Mode: Corrective
Structure: Flat
Current Position: Wave (ii) of {i}
Expected Direction: Upside in wave (iii)
Analysis Details:
Monitoring for a bottom in wave {c} of 4, with growing volume around the lows signaling that the bottom could already be in place. The next move is expected as wave (ii) of {i}, which may be either completed or approaching completion, setting the stage for an upward push into wave (iii).
NFLX Elliott Wave Technical Analysis – 1H Chart Insights
We are looking for signs confirming the bottom in wave {c} of 4, supported by increasing volume near the lows, which may indicate that the corrective phase is over. Once wave (ii) of {i} completes, a strong upward movement into wave (iii) is anticipated as the next phase of the uptrend develops.
Key Takeaways:
- Bottom formation in wave {c} of 4
- Increased volume suggests reversal confirmation
- Anticipation of strong upside movement in wave (iii)
Technical Analyst: Alessio Barretta
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