Hello fellow traders. In this technical article, we will take a look at the Elliott Wave charts of Netflix (NFLX) stock published in the members area of ​​the site. Our members are aware of the numerous positive trading setups we have had recently. One of them is NFLX, which made a pullback that ended just inside the even leg zone (Blue Box area). In the text below, we will dive deeper into the Elliott Wave pattern and trade setup.

NFLX H1 Update 12/18/2024

Netflix stock is currently in its fourth red pullback, unfolding in three waves ((a))((b))((c)). Ideally, the stock should expand towards the blue buying zone: the 896.73-876.79 area. We expect the company’s stock to rise towards modern highs or rebound in three waves. When the price returns to the 50% Fibonacci level of the ((b))blue link, we will hedge the positions, place a stop loss at break-even and take partial profits.

A quick reminder on how to trade on our charts:

Red bear badge + blue box = Sales setup
Green bullish badge + blue box = purchase setup
Charts with black marks cannot be exchanged.

NFLX H1 Update 12/26/2024

The stock has fallen towards our blue area. Netflix, as expected, found buyers and achieved good growth in our shopping zone. As a result, any long positions taken from the even legs area are now risk-free and we have already made partial profits. We consider red wave 4 to have ended at a low of 887.14. The stock remains bullish on the 804.46 pivot. We believe that as long as this turn continues in our system, the stock should continue to find buyers in 3, 7, 11 swings, ideally for further development towards modern highs.

Remember that not every chart is a trading recommendation.