NFLX Elliott Wave technical analysis [Video]

NFLX Elliott Wave analysis

• Function: Counter-Trend.

• Mode: Corrective.

• Structure: ZigZag.

• Position: Wave C of (4).

• Direction: Approaching Bottom in Wave C.

• Details: NFLX is within a ZigZag correction, still inside the base channel, with support around $800 potentially acting as a floor. Confirmation of Wave C’s bottom could trigger an upward trend in Wave (5).

• Function: Counter-Trend.

• Mode: Corrective.

• Structure: ZigZag.

• Position: Wave {v} of C.

• Direction: Bottom forming in Wave {v}.

• Details: A five-wave move within Wave C is near completion, stopping just shy of the equality target (C vs. A). However, due to volatility, confirmation through upside breakout is essential.

Technical Analyst: Alessio Barretta.

NFLX Elliott Wave analysis [Video]