Bullish Trendline Could Help Netflix Stock Recover

Core Viewpoint - Netflix Inc's stock is experiencing a decline, down 3.7% to $556.33, marking its fifth loss in six sessions, but it still shows strong year-to-date and year-over-year gains [1][2] Stock Performance - The stock is down 8.3% this quarter, yet it has a 14.4% lead year-to-date and a 72.7% gain year-over-year [1] - Netflix stock is outperforming the SPDR S&P 500 ETF Trust, which is up only 6.2% in 2024 [2] Technical Analysis - The stock is near a historically bullish trendline and has recently come within one standard deviation of its 80-day moving average [1] - Historical data indicates that 67% of similar signals in the past three years led to a 10.3% gain one month later, suggesting potential for the stock to rise above $613 [1] Market Sentiment - Despite its strong performance, 17 out of 40 analysts rate Netflix as a "hold" or worse, indicating some pessimism in the market [2] - The Schaeffer's Volatility Index (SVI) for Netflix is at 29%, in the low 12th percentile of its annual range, suggesting attractively priced options premiums [2]