Netflix fails to reclaim the 70-dollar levelNetflix, Inc.BATS:NFLXFOREXcomIt has not been an easy stretch for Netflix shares. At the moment, the stock continues to reflect a loss of more than 8.00% following the release of earnings, keeping an important selling bias in short-term price movements. Last week, Netflix reported revenue of 12.56 billion dollars, compared with the 12.59 billion expected, while earnings per share came in at 80 cents, above the 79 cents estimated. Although the results were not far from expectations, the market appears to have been looking for a stronger growth signal. For now, concerns remain that the company’s growth outlook may not be as strong during 2026. This perception continues to weigh on the stock and could keep supporting a phase of indecision or selling pressure over the next few trading sessions. Major bearish trend line remains relevant For several months, Netflix shares have maintained consistent weakness, giving way to a major long-term bearish trend line. With the recent pressure on the stock, this structure remains the most important technical reference on the chart. As long as no relevant recoveries are seen that put this trend at risk, the bearish line could continue to define the stock’s main movements over the coming weeks. RSI At the moment, the RSI remains below the 50 level, reflecting dominant selling momentum in the market. However, it is also important to note that the formation of higher lows in the RSI, together with lower lows in Netflix shares, has created a possible bullish divergence. This signal could warn of excessive recent selling pressure and open room for possible short-term bullish corrections. MACD The MACD shows a histogram moving close to the neutral 0 level. This suggests that the average strength of the moving averages remains in a balanced area. For this reason, the indicator could also be highlighting a possible phase of indecision on the chart. Key levels to watch • 76 dollars – Relevant resistance: This previous weekly high zone is the most important resistance to watch. This level is also close to the 50-period simple moving average, so price movements toward this area could start to highlight a clearer phase of indecision and even open room for the formation of a short-term sideways range. • 70 dollars – Near-term barrier: Relevant level on the daily chart that could act as a tentative area to watch in case of possible short-term bullish corrections. • 65 dollars – Key support: This low zone has not been seen since 2024 and remains the main bearish barrier on the chart. Sustained movements below this level could keep a dominant selling bias in place and open room for an extension of the major bearish trend line over the coming weeks. Written by Julian Pineda, CFA, CMT – Market Analyst