NFLX Elliott Wave Analysis Trading LoungeNetflix Inc., (NFLX) Daily ChartNFLX Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave 4 of (5).DIRECTION: Upside within wave 5 of (5).DETAILS: Looking for a bottom in wave 4 in place or soon to be. Wave 3 is just a bit short of 1.618 3 vs. 1, looking for overall upside towards TradingLevel1 at 1000$. 
Netflix Inc., (NFLX) 1H ChartNFLX Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {c} of 4.DIRECTION: Bottom in wave {c}.DETAILS: We seem to be close to a bottom in wave {c} as we have met equality of {c} vs. {a} at 889$. Looking for a turn higher to start having confirmation. 
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*Netflix is currently in Wave 4 of the larger wave (5). The correction within wave 4 is nearing completion, and we expect to see a bottom either already in place or forming soon. Wave 3 nearly reached the 1.618 extension of wave 3 vs. wave 1, indicating strong momentum in the previous move. The next move will likely be upside into wave 5 of (5), with the target around TradingLevel1 at 1000$.* NFLX Elliott Wave Technical Analysis – 1H Chart*On the 1-hour chart, we are tracking the completion of wave {c} of 4. The price has already hit equality of {c} vs. {a} at 889$, suggesting that a bottom is near or may already be in place. Confirmation of a bullish reversal will come when we see a strong turn higher, which would initiate wave 5.More By This Author:Elliott Wave Technical Analysis: XRP Ripple Crypto Price News For Tuesday, Jan 7
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