Netflix perfectly reacting higher from blue box area
In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of Netflix ticker symbol: NFLX. We presented to members at the elliottwave-forecast. In which, the rally from May 2022 low is unfolding as an impulse structure. Showing a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
Netflix one-hour Elliott Wave chart from 3.06.2025
Here’s the 4-hour Elliott wave chart from the 3.06.2025 update. In which, the cycle from the March 2023 low ended in wave III at $1065.05 high. Down from there, the stock made a pullback in wave IV to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave ((A)) ended at $955 low. Wave ((B)) bounce ended at $1000.89 high & wave ((C)) was expected to reach the blue box area at $890.62- $822.32. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.
Netflix latest four-hour Elliott Wave chart from 3.19.2025
This is the latest 4-hour Elliott wave Chart from the 3.19.2025 update. In which the NFLX is showing a reaction higher taking place, right after ending the zigzag correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above $1065.05 high is still needed to confirm the next extension higher & avoid a double correction lower.
Author
Elliott Wave Forecast Team
ElliottWave-Forecast.com
