NFLX | Weekly Order Block Holds — Resistance Is The TriggerNetflix, Inc.BATS:NFLXBigBeluga By analyzing the #NFLX (Netflix) chart on the Daily timeframe, we can see a market that spent months in a controlled decline and has now arrived at the first level on this chart that genuinely matters. The trend has not turned yet. But for the first time since the reversal, price is being offered a structural reason to. Daily Timeframe The context has to be stated first, because it sets the ceiling on everything else. This was an uptrend for a long stretch — price printed successive bullish BOS, each one confirming buyers held control. That sequence ended with a bearish CHoCH, followed by a bearish BOS, and the character of the market changed with it. A Protected High at $109.22 was left behind, and it still stands as the line that defines the larger structure. What followed was a sustained downtrend, and it behaved exactly as downtrends do — every leg lower was drawn toward resting liquidity beneath it, and each one was taken in turn. That decline has now carried price into the Weekly Order Block ($58.12 – $64.91). This is the most significant demand region on the chart, and the reaction off it has been strong enough to break the descending trendline that had capped every rally since the reversal. That break is the first structural change in months. Price is currently trading around $75.53, pressing directly into the Resistance zone ($74.69 – $78.68). This is the level that decides the next move. Above it, the chart is unusually clean: the FVG ($98.83 – $106.98) sits unmitigated beneath the Protected High, and above that the buy-side liquidity rests at $126.38 and $134.15. The Bias Scenario A — the conditional bullish path. The structure suggests that a decisive close above the Resistance zone at $74.69 – $78.68, followed by acceptance above it rather than an immediate rejection, opens the first leg toward the unmitigated FVG at $98.83 – $106.98. That imbalance sits directly beneath the Protected High, which makes it the natural first objective rather than a level price passes through. Beyond that, the Protected High at $109.22 is the level that changes the larger picture. A reclaim of it would repair the structure that the CHoCH broke, and would put the resting liquidity at $126.38 and then $134.15 into play. Every stage of this depends on the one before it. The FVG is not in play until Resistance is cleared and held. The upper liquidity is not in play until the Protected High is reclaimed. This is a sequence, not a forecast. Scenario B — rejection and the invalidation. Resistance has not been broken yet, and that must be said plainly. If price is turned away from $74.69 – $78.68 without closing above it, the downtrend is simply pausing rather than ending, and the Weekly Order Block at $58.12 – $64.91 comes back into focus as the region that would need to hold a second time. A decisive close beneath $58.12 would mean that block has failed. At that point the bullish sequence described above is void and the larger downtrend resumes without a structural floor beneath it. The rule that governs both paths is the same one that governs this level: a break is a candle close, not a wick. A zone that has capped price this cleanly is exactly where a spike through and a reversal is most likely. Fundamental Backdrop The fundamental picture explains the chart with unusual precision, so it is worth connecting directly. Netflix reported Q2 on 16 July, and the quarter itself was solid. Revenue came in at $12.56bn, up 13.4% year-on-year, with net income of $3.4bn and earnings of $0.80 per share against a consensus near $0.79. On the numbers as reported, this was a business performing in line to slightly ahead. The stock fell anyway, reaching a 52-week low on the print. The reason was the outlook rather than the quarter: the Q3 revenue guide came in beneath expectations, and full-year 2026 revenue guidance was narrowed to $51bn – $51.4bn. A narrowed range at the top end is read by the market as a ceiling, and growth-rated names are repriced on trajectory, not on the last twelve weeks. That repricing is the leg that carried price down into the Weekly Order Block. For context on the price scale, Netflix completed a 10-for-1 stock split in November 2025, so all levels on this chart are post-split. What this means for the technical read is specific: the decline was a valuation reset driven by forward guidance, not a deterioration in the underlying business. That distinction is what makes a Weekly Order Block reaction credible rather than a falling-knife bounce. It also sets the condition for the upside sequence — the structure can carry price to the FVG, but a reclaim of the Protected High realistically requires the growth outlook to improve, which makes the next guidance update the event that matters most. This analysis will be updated as the market evolves. Best Regards, BigBeluga