NFLX Elliott Wave analysis
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Function: Counter-Trend.
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Mode: Corrective.
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Structure: ZigZag.
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Position: Wave C of (4).
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Direction: Approaching Bottom in Wave C.
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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).
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Function: Counter-Trend.
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Mode: Corrective.
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Structure: ZigZag.
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Position: Wave {v} of C.
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Direction: Bottom forming in Wave {v}.
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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.
NFLX Elliott Wave analysis [Video]
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