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NFLX Elliott Wave Analysis Trading Lounge Daily Chart, Netflix Inc., (NFLX) Daily Chart.  NFLX Elliott Wave technical analysis Function: Trend.  Mode: Impulsive.  Structure: Motive.  Position: Wave 3.      Direction: Upside in wave 3.    Details: Looking for a bottom in wave 2 in place, with upside within wave 3 of (5Looking for a bottom in wave 2 in place, with upside within wave 3 of (5)  with minimum target TL8 at 800$.  )  with minimum target TL8 at 800$. Netflix Inc., (NFLX) 1H Chart.  NFLX Elliott Wave technical analysis Function: Trend. Mode: Impulsive. Structure: Motive. Position: Wave 3. Direction: Upside in wave 3. Details: We seem to have bottom in wave 2 and are resuming higher. It looks like we could be in either wave ii of (iii) or else we could be in wave (iv) of {i} as a leading diagonal. In this Elliott Wave analysis of Netflix Inc. (NFLX), we analyze its recent price action using Elliott Wave Theory to provide traders with insights into potential opportunities. Both the daily and 1-hour charts offer a detailed view of NFLX’s trend and wave structure.  NFLX Elliott Wave technical analysis – Daily chart In the daily chart, Netflix is in a clear impulsive mode, advancing within Wave 3 of (5). The stock has likely completed its Wave 2 correction and is now entering Wave 3, which typically represents the strongest and most extended move in an impulsive structure. The immediate upside target for this Wave 3 is TradingLevel8 (TL8) at $800, a significant psychological and technical level.  NFLX Elliott Wave technical analysis – One-hour chart The wave structure shows that NFLX is likely in the early stages of a new impulsive phase, either completing a small correction before moving higher or advancing within a larger impulsive wave. Confirmation of a continued rally within Wave {i} of 3 would solidify the bullish outlook, with near-term resistance levels offering potential breakout points. Technical analyst: Alessio Barretta. NFLX Elliott Wave technical analysis [Video] Source: https://www.fxstreet.com/news/netflix-inc-nflx-elliott-wave-technical-analysis-video-202409170937

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Filed under: News - @ September 17, 2024 11:22 am