In the technical analysis of Netflix (NFLX), the Elliott Wave theory suggests a bullish trend.

Function: The analysis identifies a trending function within the market.

Mode: It indicates an impulsive pattern, suggesting strong directional movement.

Structure: The analysis identifies a motive structure within the Elliott Wave framework.

Position: Currently, the focus is on Wave 3 of (3), indicating a significant upward movement.

Direction: The analysis predicts further upside momentum in Wave 3.

Key Levels:

– Medium Level: The analysis anticipates reaching $650, potentially marking the top of Wave 3.

– Equality Level: Parity observed between Wave 3 and Wave 1 at $670, suggesting a possible price target.

On the daily chart, the analysis highlights a motive structure within Wave (v) of {iii}, indicating continued upside momentum.

Direction: Wave (v) suggests further upward movement after a consolidation phase in Wave (iv).

Based on Elliott Wave theory, the analysis provides insights into potential price targets and the overall bullish trend in Netflix’s stock.


NFLX Elliott Wave technical analysis [Video]

By Admin

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