According to the charts, Netflix (NFLX) shares have risen above $1,170 – the highest level in the company’s history. Since the start of 2025, the price of NFLX stock has increased by approximately 33%, while the S&P 500 index (US SPX 500 mini on FXOpen) remains close to its opening levels from 2 January.

Why Is Netflix (NFLX) Performing Strongly?

A month ago, we highlighted several factors contributing to NFLX’s outperformance relative to the broader stock market. Among them is the fact that Netflix does not offer tradable goods subject to tariffs in trade wars. As a result, the company could potentially benefit from an economic downturn if consumers spend more time at home.

According to recent reports:
→ Netflix has announced that 94 million subscribers are now using its low-cost ad-supported plan – a figure more than a third higher than the 70 million reported in November.
→ The company also forecasts that advertising revenue will double this year.

Technical Analysis of the NFLX Share Chart

The share price continues to move within the upward channel (shown in blue) we identified previously. At the same time:

→ the price is currently near the upper boundary of this channel, which has repeatedly acted as resistance (as indicated by arrows);
→ the RSI indicator shows a potential bearish divergence.

Under these conditions, a corrective move in Netflix’s stock price cannot be ruled out – for example, towards line Q or the channel median.

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