Netflix Inc. (NFLX)

Daily Chart – 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).

1-Hour Chart – Elliott Wave Analysis

• 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

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