Netflix (NFLX) experienced a prolonged corrective phase after reaching a peak of $134.12 on June 30, 2025. This downward cycle concluded at the February 23, 2026 low of $75.01, from which the stock began to recover. The rebound has established an incomplete bullish sequence, starting with a rally to $100.19 on March 5, followed by a secondary low at $89.75 on March 23. The subsequent advance broke above the March 5 high, confirming a higher-high structure and reinforcing the bullish outlook. Current projections suggest upside potential toward the 100%–161.8% Fibonacci extension zone, spanning $116.40 to $130.00.
The short-term cycle from the March 23 low is unfolding as an impulsive structure. Within this sequence, wave 1 terminated at $97.20, while wave 2 corrected to $94.25. The stock then advanced in wave 3, reaching $102.69, before retracing in wave 4, which appears complete at $97.97. Provided the pivot at $94.24 remains intact, the near-term expectation is for pullbacks to find support, paving the way for wave 5 to extend higher. This structure highlights the resilience of the current recovery and suggests that Netflix is positioned to continue its upward trajectory, with the broader cycle favoring additional gains toward the projected Fibonacci targets. The technical framework therefore supports a constructive outlook, contingent on the preservation of key support levels.
Netflix (NFLX) 30-minute Elliott Wave chart
NFLX Elliott Wave [Video]
Source: https://www.fxstreet.com/news/netflix-nflx-short-term-elliott-wave-bullish-sequence-targets-11640-video-202604070716
