Netflix Inc. (NFLX) Daily Chart

NFLX Elliott Wave Technical Analysis

• Function: Trend
• Mode: Impulsive
• Structure: Motive
• Position: Wave {v} of 5
• Direction: Upside in wave 5

Details:

The stock is expected to continue higher beyond TradingLevel1 at $1000. The absence of significant resistance upon surpassing this level indicates strong bullish momentum. If wave {v} completes, a pullback to $1000 may occur before resuming the larger uptrend.

Netflix Inc. (NFLX) 1-Hour Chart

NFLX Elliott Wave Technical Analysis

• Function: Trend
• Mode: Impulsive
• Structure: Motive
• Position: Wave (iii) of {v}
• Direction: Upside in wave {v}

Details:

Further upside is anticipated into an extended wave {v}. The next target for the rally could be around $1200.

NFLX Elliott Wave Summary

This Elliott Wave analysis reviews Netflix Inc. (NFLX) across both the daily and 1-hour charts to determine current wave positioning and potential price action.

Daily Chart Summary:

Netflix is in wave {v} of 5, maintaining an impulsive upward structure. The stock recently broke past TradingLevel1 at $1000 without notable resistance, reinforcing the bullish momentum. As wave {v} progresses, further gains are expected, though a temporary pullback to $1000 could follow.

1-Hour Chart Summary:

The stock is extending within wave (iii) of {v}, supporting further upward movement. The short-term outlook suggests a target of $1200 before wave {v} concludes, driven by strong market momentum.

Technical Analyst: Alessio Barretta

More By This Author:

Elliott Wave Technical Analysis: ASX Limited - Tuesday, Feb. 18
Elliott Wave Technical Analysis: Euro/British Pound - Tuesday, Feb. 18
Elliott Wave Technical Analysis: Shanghai Composite Index - Tuesday, Feb. 18