Netflix: Wave Z or a Surprise Truncation Ahead?

After a textbook W–X–Y–X structure, Netflix now appears to be sketching the final leg “Z” inside a well-defined descending channel. Each corrective wave has respected the parallel boundaries — a sign of structural discipline rather than chaos.

The latest drop to $1,087.30 tagged the channel’s lower rail and the Major Pivot near $1,064.50, precisely where the RSI has also reached its long-term support zone. This alignment hints that the market may be nearing exhaustion — but whether it’s the end of “Z” or just a pause before one more flush remains the key question.

A sustained break below the pivot confirms completion of the triple correction, while a sharp rebound from here could mark a truncated Z, setting the stage for a larger recovery.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.