Bearish NFLXNetflix, Inc.BATS:NFLXKAIM1777Bearish Outlook on NFLX Despite Uptrend While Netflix's stock has shown impressive growth- up 92% over the past year and 37% year-to-date - I maintain a bearish perspective due to several fundamental and technical concerns: 1. Overvalued P/E Ratio: Netflix is currently trading at a forward P/E ratio of around 45x, significantly higher than many of its peers in the streaming and tech sectors. This valuation implies high expectations for future growth, which may not be sustainable given rising competition and market saturation. If growth slows even slightly, the stock could face sharp corrections. 2. Intensifying Competition: Free movie download sites and low-cost IPTV services now offer broader content libraries at prices far below Netflix's monthly subscription. These alternatives, especially in emerging markets, pose a real threat to Netflix's long-term subscriber growth. 3. Insider Selling Activity: Key executives, including CFO Spencer Neumann and Director Jay C. Hoag, have recently sold large amounts of stock. While insider selling isn't always bearish, the timing - near all-time highs - raises questions. 4. Analyst Price Target Hikes: Recent bullish price target increases (e.g., Jefferies to $1,400) could be interpreted as institutions looking to exit positions by attracti ng buyers at higher levels, especially after most short positions have been cleared. 5. Regulatory Risks: Proposed U.S. tariffs on foreign film content could raise costs for Netflix, forcing price hikes or reduced margins. Technical Note: Despite the uptrend, I remain cautious. My stop loss is tied to the daily close. A break below key support on a closing basis could confirm a reversal.