$NFLX Elliott Wave forecast: Incomplete bullish sequence points to 115.00–130.00

In this Elliott Wave update, we take a look at the latest structure in Netflix Inc. ($NFLX). The stock continues to show an incomplete bullish sequence, which suggests that higher prices should still be seen before the current move is finished. As a result, the next upside area to watch comes at 115–130. Moreover, a break to new all-time highs would confirm that a new bull cycle is taking place.

Five-wave impulse

$NFLX four-hour Elliott Wave view

Looking at the 4-hour chart, $NFLX appears to have completed a meaningful low on 2/23 at 75.11 and then turned higher in a clear impulsive structure. From that low, the stock has continued to build a series of higher highs and higher lows, which supports the bullish outlook.

More importantly, the rally does not appear complete yet. Instead, the current structure suggests that the stock still trades within an unfinished upside sequence. In other words, buyers remain in control, and the market likely needs more upside before the cycle fully matures.

Incomplete bullish sequence remains in place

At this stage, the advance from the recent low is unfolding in a constructive Elliott Wave pattern. Pullbacks have remained corrective, while each dip has continued to attract buyers. Consequently, the broader sequence still favors higher prices rather than a larger bearish reversal.

This matters because an incomplete bullish sequence often points to continuation in the direction of the trend. Therefore, until the sequence finishes or the structure breaks down, the preferred path remains higher.

Upside target at 115–130

Based on the current wave structure, $NFLX is expected to extend toward the 115–130 region. This area marks the next important upside zone as the bullish sequence continues to unfold.

Although short-term pullbacks can still happen along the way, they should remain corrective while the stock continues to trade within this bullish pattern. For that reason, dips are more likely to be viewed as part of the ongoing advance rather than as signs of a completed top.

New all-time highs would confirm a new bull cycle

Perhaps most importantly, a push into new all-time highs would provide strong confirmation that a new bull cycle is taking place. That would show the stock is not simply bouncing within a larger corrective structure. Instead, it would signal that $NFLX has entered a fresh higher-degree bullish phase.

Accordingly, traders should keep a close eye on how price behaves as it approaches prior record highs. If that level breaks decisively, the bullish case would strengthen further and support the view that a larger cycle to the upside has already started.

Near-term outlook

For now, the path of least resistance remains higher. While the market can still produce short-term pauses or pullbacks, the overall sequence remains constructive and incomplete. As long as the current structure stays intact, the bullish view should remain favored.

Meanwhile, the chart also shows an invalidation level at 75.11. As long as $NFLX stays above that level, the current wave count remains valid and the upside targets remain in focus.

Technical summary

To summarize, $NFLX continues to show an incomplete bullish sequence, which keeps the upside path favored. The next important target area comes at 115–130, and a break to new all-time highs would confirm that a new bull cycle is taking place.

Therefore, while short-term pullbacks can still occur, the broader structure continues to support additional upside as long as the bullish sequence remains intact.