Netflix Daily & Weekly Chart: Critical Support Zone in PlaNetflix, Inc.BATS:NFLXThe_STAIn front of us is a daily chart of Netflix, and at first glance, you might think we’re staring at a straightforward top. But there’s more going on beneath the surface. 📉 Daily Chart Insight We’re currently sitting at the bottom of a parallel down channel. That’s not just noise—it’s a potential inflection point. If price respects this lower boundary, we could see a rebound. To invalidate that idea, we’d need a daily close below ~1067, the base of the channel. 📆 Weekly Chart Confirmation Zooming out reveals two more confluences: •🔁 23.6% Fibonacci retracement from the May 22 to July 25 move lands at 1065. •📊 55-week moving average—a long-standing support—currently sits at 1060. 🧱 Add to that the February 2025 swing high at 1064, and we’ve got a cluster of support between 1060–1067. This zone has held before and could do so again. 📈 If price rebounds and breaks above 1142, we’re back in the middle of the range—and this setup starts to look more like a continuation than a top. 🔍 Watch this area closely. A decisive break below 1060 would shift the narrative. Until then, the bulls may still have a case. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.