Netflix Elliott Wave technical analysis [Video]

NFLX Elliott Wave technical analysis

Function: Trend

Mode: Impulsive

Structure: Motive  

Position: Wave 3 of (3).

Direction: Upside in wave 3.  

Details: We are approaching Medium Level at 650$ which is where we could expect wave 3 top. We also have equality of 3 vs. 1 at 670$.

NFLX Elliott Wave technical analysis – Daily chart

Our analysis reveals a trending function characterized by impulsive mode and motive structure, positioned in Wave 3 of (3). The direction indicates upside momentum in wave 3, with key levels to watch out for. We are nearing the Medium Level at $650, where a potential wave 3 top could occur. Additionally, we observe equality between wave 3 and wave 1 at $670, providing further insight into potential price targets.

NFLX Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.  

Position: Wave (v) of {iii}.

Direction: Upside in wave (v).

Details: Looking for upside into wave (v) as we seem to have been consolidating into wave (iv).

NFLX Elliott Wave technical analysis – Four-hour chart

Here, we identify a trending function marked by impulsive mode and motive structure, positioned in Wave (v) of {iii}. The direction suggests further upside movement in wave (v) after a consolidation phase in wave (iv). This consolidation indicates a period of temporary pause before the resumption of the uptrend.

NFLX Elliott Wave technical analysis [Video]