Netflix — Weekly Rebound, but the Trend Reversal Still Needs Con for NASDAQ:NFLX by DL_INVEST
Short-term price action is improving: NFLX has closed higher for four consecutive weeks and moved back above its 10-week average near $74.56. However, this is still a rebound within a damaged weekly structure rather than a confirmed bullish reversal.
Momentum also remains fragile. The weekly RSI is approximately 38, still below the neutral 50 level, while rebound volume remains lighter than the heavy volume recorded during the decline.
Key levels
Immediate support: $75.23
Major support zone: $70.86–$71.76, including the 200-week SMA
Structural invalidation: $65.08
First resistance: $80.65–$83.02
Secondary resistance: $85–$88.70
Major resistance and target area: $93.90–$96.24
Full reversal confirmation: above $100.20
Bullish scenario
A weekly close above $83 would strengthen the recovery and open the way toward $88.70, followed by the chart target at $96.24. This target represents approximately 23% upside from the current price, but the $93.90–$100.20 zone is likely to attract significant selling pressure.
Bearish scenario
A weekly close back below $75.23 would weaken the rebound. Losing the $70.86–$71.76 support cluster would expose $65.08 again. A decisive weekly close below $65.08 would invalidate the bullish recovery scenario.
Conclusion
NFLX is showing a constructive weekly rebound, but confirmation is still missing. The setup becomes meaningfully bullish above $83, while a move through $96.24–$100.20 would be required to confirm a broader trend reversal.
Laurent
✅ DL INVEST | Community Leader