Netflix Inc's (NASDAQ:NFLX) stock is slipping further into technical trouble, extending its slide below the 200-day moving average for a tenth consecutive session — the longest stretch in more than three years. While some traders are calling it routine digestion after a powerful multi-quarter rally, the chart suggests something more serious may be developing: a potential Death Cross.
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A Death Cross, when the 50-day moving average drops below the 200-day moving average, is one of the most widely watched bearish triggers in technical analysis.
Chart created using Benzinga Pro
Netflix is now within striking distance of that signal. The 50-day sits at $113.57 while the 200-day holds at $113.43 — practically touching — and with momentum weakening, the crossover could hit on the next turn lower.
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Netflix Technical Breakdown
The stock is trading around $103.05, well beneath short-term momentum markers. The eight-day moving average sits at $106.32, the 20-day at $109.15, and the 50-day at $113.57, showing a clear stair-step decline as selling pressure accelerates.
Momentum indicators echo the weakness: MACD (moving average convergence/divergence) indicator is at a negative 2.35 and the RSI (relative strength index) has slid to 37.64, approaching oversold territory but not yet signaling capitulation.
Netflix Stock Performance Slide
Netflix is now down 17.49% over the past six months and 6.42% in the past month, bleeding steadily since peaking in summer trading. Year-to-date gains have eroded to 15.35% as the stock loses leadership status within mega-cap tech names that once depended on its streaming growth story.
The narrative has shifted from excitement about profitability and password-sharing impact to anxiety around slowing subscriber additions and rising competition in an increasingly commoditized streaming market.
Netflix Trade Setup
For traders, the setup is binary. A confirmed Death Cross risks triggering systematic selling, momentum-strategy outflows and hedge-fund de-risking. Bulls will argue that the RSI near 37 suggests a bounce window, particularly if support holds near the $100 psychological level.
But right now, Netflix isn't trending sideways. It's trending down — and until the stock fights back above short-term averages, the burden of proof sits firmly with the bulls.
Streaming fatigue is real. And the chart is starting to look like a horror genre.
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