A 4.7 million-share sell block near $71 failed to push NFLX lower, signaling potential absorption by buyers.
Netflix shares surged more than 5% intraday, recovering from near $71 to $74.75 after a large sell block of 4.7 million shares appeared but failed to drive prices lower. The lack of downside follow-through suggests aggressive selling may have been absorbed by stronger buyers.
Earlier in the session, NFLX traded as low as $71.53 before rebounding toward the day’s high of $74.84. The stock’s resilience near support contrasts with typical sell-off patterns, where large blocks often accelerate declines.
Analysts noted the cleaner entry for a buy-the-dip strategy would require a controlled pullback above the $71 support level. A sustained drop below this threshold could invalidate the bullish setup.