Netflix $NFLX has been showing many bullish signs since December. Has Netflix gotten back into the long-term bullish trend? I don't think so, but there is some upside in the short-term. NFLX Daily Chart (click to enlarge) Bulls In Over:-When we look at the daily chart, we see a market that has been in bearish correction since it tagged $420 a share back in June/July 2018. - But after finding support around $232 in December, price has shot back up. - Note that price has broke back above the 200-, 100-, and 50-day simple moving averages (SMAs). - Price has broken back above a falling channel as well.- The RSI has pushed above 70, which indicates revival of bullish momentum.- These are signs that would convince me NFLX is in bullish continuation mode. But I am cautious because there is still a lot of market risk in 2019. - In the short-term, it looks like price is going to be able to break the current resistance around $360.- The next resistance will be around $380.- I would limit my bullish outlook to this area, although there is a chance price will push to $400, and even the $420 area. - At this point, a break below $300 would open up the bearish correction scenario again. - Otherwise, I would assess NFLX as neutral-bullish.Waiting for Pullback:- However, as price reaches these heights again (above $380), there will be too much risk of correction again. - In other words, I would not want to chase the rally at that point. - Instead, I want to remain patient and wait for a pullback towards the $300-$310 area. This is a strong support/resistance pivot area as well as a key psychological level for support.- I would also rather wait for the RSI to pull back down to 40 before initiating a bullish trade. What about a Short-term Trade?- I think its okay to bet that price can make it to $380 before it falls below $335. - Therefore, I wouldn't mind a short-term buy order at $350, with a stop at $335 and a target of $380. This is a 2:1 reward to risk trade and would be in the short/medium-term time-frame. ( a month or two). Note on Volume, and a Possible $330 Entry:- There has been a decline in volume after the bullish breakout.- I think this is a sign that the bullish scenario will be limited.- If volume doesn't pick up on its way towards $380, I would be more confident of the subsequent pullback.- But I am still not confident it will come back to $300 where I want to buy. If the general market does contract again, I would have more confidence.- Otherwise, I think I will have to push the order for 1/2 the position size towards $330. - This way, with another order at $300, I could end up with an average price of $315.