Netflix, Inc.

What to watch

• • Watch whether bids return after the first dip in NFLX; buyers stepping back in would be more convincing than price simply hovering.
• • NFLX should be compared against the rest of the leaderboard, not viewed in isolation; the move is stronger if it stays competitive against today’s fastest names.
• • NFLX should hold near the upper part of today’s range; a quick slip after the ranking move would suggest the leaderboard strength is fading.
• • Watch the volume profile on NFLX: liquidity needs to stay visible, otherwise this starts to look like a thin move rather than a durable signal.