NFLX Elliott Wave Analysis Trading LoungeNetflix Inc., (NFLX) Daily ChartNFLX Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave 3 of (5).DIRECTION: Upside within wave (5).DETAILS: Looking for upside into wave (5) towards Trading Level 1 at 1000$. We seem to be missing another larger pullback in wave 4 before resuming higher into ave 5 of (5).
Netflix Inc., (NFLX) 1H ChartNFLX Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {b} of 4.DIRECTION: Bottom in wave {c}.DETAILS: Looking for another leg lower into wave {c} of 4 as we could have a top in wave {v} as we have a perfect match with the parallel base channel of {ii} and {iv}.
In this Elliott Wave analysis, we will review the trend structure of Netflix Inc., (NFLX) using both the daily and 1-hour charts to assess the current wave position and potential price movements.* NFLX Elliott Wave Technical Analysis – Daily Chart*The daily chart suggests that wave 3 of (5) is progressing, with the stock aiming for further upside towards TradingLevel1 at $1000. However, before this target is reached, a larger pullback is expected in wave 4, which would then set the stage for a final advance into wave 5 of (5). This corrective phase will offer a more sustainable foundation for the next leg higher.* NFLX Elliott Wave Technical Analysis – 1H Chart*On the 1-hour chart, wave {b} of 4 is developing, and the analysis suggests another leg down into wave {c} of 4. There appears to be a potential top in wave {v}, and the current move down could lead to a bottom within the parallel base channel created by waves {ii} and {iv}. This decline would complete the corrective structure, paving the way for the next upside movement.Technical Analyst : Alessio BarrettaMore By This Author:Elliott Wave Technical Analysis: Bitcoin Crypto Price News For Tuesday, Dec 17
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