NFLX stock price bounced towards $455 after the $351 low on January 24th. However as we said in our previous analysis on NFLX at the beginning of February, price remains in a bearish trend and lower lows are expected to be seen.
NFLX stock price continues to respect the bearish channel boundaries. This increases the chances of price making new lower lows below $350. We remain bearish NFLX as long as price is below $455. Short-term resistance is at $416. A move above this level would be a sign of strength but not a confirmed reversal.
