Week 33 of 52 | NFLX: The Bounce Is Here—But Is the Bottom In?Netflix, Inc.BATS:NFLXRobert_V12In my previous NFLX analysis, I said the trend wasn’t about one line. It was about the structure. Since then, Netflix lost the $80–85 area, made another lower low and eventually reached the major support zone around $63–69. Buyers finally stepped in there, and the stock has now bounced more than 20% from its recent low. That is a strong reaction, but it doesn’t confirm the bottom just yet. NFLX is now approaching its first real test around $80–85. This area previously acted as support, so it could now become resistance. A rejection here would keep the broader bearish structure intact. For the bulls, reclaiming $85 would be the first meaningful improvement. It could open the door toward $94–98, where the stock would meet another resistance area and the descending trendline. But even then, the real confirmation would come from breaking that trendline and beginning to form higher highs and higher lows. Until that happens, this is still a bounce inside a downtrend. The business itself remains solid. Q2 revenue grew approximately 13% year over year, and Netflix expects $51.0–$51.4 billion in revenue for 2026. Advertising is also expected to generate roughly $3 billion this year. The recent selloff was more about high expectations and softer forward guidance than a collapse in the underlying business. Levels I’m watching: Above $85: Possible continuation toward $94–98. Above $98: First serious signal that the broader trend may be changing. $72–74: Short-term support and possible higher-low area. Below $72: Risk of another test of $69–63. Below $63: The major support would be broken. NFLX has already delivered the bounce. Now it needs to prove that buyers can do more than defend support. A good company can still have a bearish chart—and right now, the chart hasn’t fully turned. This analysis is for educational purposes only and is not financial advice. Always do your own research and manage your risk.