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Netflix Stock Trading Analysis
Netflix, a renowned streaming service and media powerhouse, has been actively involved in strategic maneuvers in the stock market recently. With the stock symbol NFLX, the company has been keen on capitalizing on the fluctuations in the blue field. Let’s explore Netflix’s stock inventory in detail and dissect the reasons behind their recent market activities.
NFLX Hourly Update 06.24.2024
The current status of Netflix stock shows a wave ((iv)) pullback, unfolding as an Elliott Wave Zig Zag pattern. The ongoing pullback, labeled as (a) (b) (c) in blue, is still incomplete. It is anticipated that the stock may experience a further decline towards the blue box-buying zone, ranging from 666.26 to 653.38. Following this, we expect the stock to either rally towards new highs or undergo a 3-wave surge. Once the price retraces to the 50% Fibonacci level relative to the (b) blue connector, we will secure positions, set the stop loss at breakeven, and capture partial profits.
NFLX Hourly Update 06.28.2024
As predicted, Netflix stock rebounded significantly from the Blue Box, resulting in a profitable rally. Consequently, any long positions initiated from the equal legs zone are now risk-free, with partial profits already secured. The completion of wave 2 red at the 662.67 low is noted, indicating bullish momentum as long as the 626.44 pivot holds. This suggests potential investor interest in 3, 7, 11 swings, leading to further highs or a 3-wave surge.
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