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Netflix Elliott Wave View: More Strength is Expected

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Netflix ticker symbol: $NFLX short-termElliott waveview suggests that the rally to $369.83 high on 6/05/2018 ended Minor wave 1. The internals of that rally unfolded asElliott wave impulse structurewith lesser degree 5 waves structure in Minute wave ((i)), ((iii)), and ((v)). Below from $369.83, the decline to $354.10 low on 6/08/2018 ended Minor wave 2 pullback.

The internals of that pullback unfolded asElliott wave Flat structurewhere Minute wave ((a)) ended in 3 swings at $363.33. Minute wave ((b)) ended in another 3 waves at $368.99 and Minute wave ((c)) ended in 5 waves at $354.10 low. Up from there, Minor wave 3 remains in progress into another 5 waves impulse structure and already showing higher high sequence in the stock. The internal degree Minute wave ((i)) of 3 completed at $365.67 & Minute wave ((ii)) of 3 completed at $357.50 low.

Near-term Minute wave ((iii)) of 3 is expected to complete soon in 5 wave structure. Afterwards, the stock is expected to do a pullback in Minute wave ((iv)) of 3 in 3, 7 or 11 swings. Thestock then should do another push higher towards $401 $430.2, which is 100%-161.8% Fibonacci extension area of Minor wave 1-2. The move higher should complete 5 waves structure and also end cycle from 6/8/2018 low ($354.10). We dont like selling it and intraday dips should find buyers in 3, 7 or 11 swings.

Netflix 1 Hour Elliott Wave Chart

Netflix Elliott Wave View: More Strength is ExpectedNetflix Elliott Wave View: More Strength is Expected

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About the author  (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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