Elliott Wave Technical Analysis: Netflix - Jan. 18

Elliott Wave Analyst - tradinglounge • Jan 18, 2023 at 7:50 AM EST

Netflix Inc. data points signal that it is in a corrective mode. Looking for further confirmation to enter short.

Netflix Inc., Elliott Wave Technical Analysis

Netflix Inc., (NFLX): Daily Chart, January 18, 2023

NFLX Stock Market Analysis: At this point I changed the count moving everything down a degree to allow for a larger correction. I still expect downside into wave {c} of B and we’ll have confirmation soon.

NFLX Elliott Wave Count: Wave B of(B).

NFLX Technical Indicators: Above all averages

NFLX Trading Strategy: Looking forfurther confirmation to enter short.

TradingLounge Analyst: Alessio Barretta

Netflix Inc., NFLX: 4-hour Chart, January 18, 2023

Netflix Inc., Elliott Wave Technical Analysis: As you can see the move down in potential wave {a} was a three wave move therefore we can have wave {b} breaking the top of {a}(flat correction).

NFLX Elliott Wave count: Wave{b} of B.

NFLX Technical Indicators: Above all averages

NFLX Trading Strategy: Looking for downside to start entering within wave {c}.

More By This Author:

Australian Stock Market Report - ASX200 Banks Resources Forex
Elliott Wave Technical Analysis: Binance / U.S. Dollar
Elliott Wave Technical Analysis: S&P 500 Index And Market Overview - Tuesday, Jan. 17

Disclosure:

As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.

STOCKS IN THIS ARTICLE

Comments

Back to all articles