Is Netflix Stock Headed Toward $1,100?Netflix, Inc.BATS:NFLXFOREXcomNetflix shares are going through a difficult period, as the streaming giant has posted five consecutive losing sessions, with a decline of around 4.5% in recent trading days. For now, the selling bias has become dominant, driven by the viral "Cancel Netflix" campaign circulating on social media, where many users have decided to cancel their subscriptions following a recent controversy involving the company. As long as this negative sentiment fueled by the campaign remains in place, selling pressure is likely to continue playing a key role in the stock’s short-term movements. Bearish Trend Emerges Since early July, a series of lower highs has formed, establishing a solid downward trendline. In addition, price oscillations below the 100-period moving average reinforce the outlook for a consistent bearish bias. Unless a significant bullish correction occurs in the near term, selling pressure could continue to dominate, allowing the bearish trend to become more pronounced in the coming sessions. RSI The RSI line continues to show downward oscillations below the neutral 50 level, confirming that bearish momentum remains dominant over the past 14 trading sessions. However, the indicator is approaching the oversold zone, marked by the 30 level, and reaching this area could signal a market imbalance, potentially opening a window for short-term corrective rebounds. MACD The MACD histogram continues to display negative oscillations below the zero line, indicating that bearish directional strength remains dominant in the short-term moving averages. As the histogram continues to post lower values, selling pressure is expected to remain a key factor in the coming sessions. Key Levels to Watch: 1,221 – Major Resistance: Corresponds to the area marked by the 100-period simple moving average. Price action breaking above this level could trigger a relevant bullish bias, putting the current downtrend at risk. 1,155 – Nearby Support: Represents the area of the latest price pullbacks. If price breaks below this level, the bearish trend could extend further in the short term, leading to sustained selling pressure. It may also act as a technical barrier capable of producing temporary bullish corrections. 1,097 – Critical Support: Corresponds to the zone marked by the 200-period simple moving average. A sustained break below this level could activate a more aggressive downtrend, likely defining the stock’s movements over the next few weeks. Written by Julian Pineda, CFA – Market Analyst