Why Netflix (NFLX) is Poised for Even More Growth [Video]

Analysis of Netflix (NFLX) Short-Term Performance

Current analysis of Netflix (NFLX) indicates that the cycle from the low on December 6, 2023, is continuing in the form of a 5-wave impulse Elliott Wave structure. Following the low on December 6, 2023, wave (1) reached 500.89, while wave (2) retraced to 461.86. The stock then advanced in wave (3) to 579.64, with a corrective wave (4) pullback to 548.93, as shown in the 30-minute chart.

Within wave (4), there was a double three pattern, with wave W ending at 554.37, wave X at 589.50, and wave Y at 548.93, completing wave (4). The subsequent wave (5) saw sub-waves ((i)) at 559.20 and ((ii)) at 550, followed by ((iii)) reaching 594.99 and ((iv)) retracing to 591.53. The final leg ((v)) concluded at 598.80, marking the completion of wave 1.

Current Elliott Wave Chart for Netflix (NFLX)

Further Market Considerations and Risk Disclosure

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