Netflix Inc. (NFLX) Elliott Wave technical analysis [Video]
|Netflix Inc. (NFLX) – Elliott Wave Analysis (Trading Lounge).
Netflix Inc. (NFLX) Daily Chart.
NFLX Elliott Wave technical analysis
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave {v} of 5.
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Direction: Upside in wave 5.
Details:
The stock is expected to continue higher beyond TradingLevel1 at $1000. The absence of significant resistance upon surpassing this level indicates strong bullish momentum. If wave {v} completes, a pullback to $1000 may occur before resuming the larger uptrend.
Netflix Inc. (NFLX) 1-Hour Chart.
NFLX Elliott Wave technical analysis
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave (iii) of {v}.
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Direction: Upside in wave {v}.
Details:
Further upside is anticipated into an extended wave {v}. The next target for the rally could be around $1200.
NFLX Elliott Wave summary
This Elliott Wave analysis reviews Netflix Inc. (NFLX) across both the daily and 1-hour charts to determine current wave positioning and potential price action.
Daily chart summary:
Netflix is in wave {v} of 5, maintaining an impulsive upward structure. The stock recently broke past TradingLevel1 at $1000 without notable resistance, reinforcing the bullish momentum. As wave {v} progresses, further gains are expected, though a temporary pullback to $1000 could follow.
One-hour chart summary:
The stock is extending within wave (iii) of {v}, supporting further upward movement. The short-term outlook suggests a target of $1200 before wave {v} concludes, driven by strong market momentum.
Technical analyst: Alessio Barretta.
NFLX Elliott Wave technical analysis [Video]
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