Netflix Stock Could Bounce Off Bullish Trendline

Core Insights - Netflix Inc's shares have experienced a pullback after reaching a record high of $1,064.50 on February 14, but are currently trading at$998.53, showing a 2.3% increase and approaching a bullish trendline [1] - The stock has spent 80% of the past two months above its 50-day moving average, with a historical trend indicating a 67% chance of a one-month gain averaging 5.8% when this signal is triggered [2] - Year-to-date, Netflix's stock has a 12.2% lead and a 66.3% gain over the past 12 months, marking a consistent upward trend since August [3] Market Sentiment - There has been an increase in bearish bets, with a 10-day put/call volume ratio of 1, ranking in the 88th percentile of its annual range, indicating a strong preference for puts among traders [4] - The Schaeffer's Volatility Index (SVI) for Netflix is at 31%, placing it in the 16th percentile of its annual range, suggesting low volatility expectations which may benefit premium buyers [5]