Netflix (NFLX) has been in a strong uptrend for five months now, moving up and down within an upward sloping trading channel. The stock is currently on the downswing within its channel, falling $20 or so over the past week. The declines -- accompanied by the departure of its CFO -- have many exclaiming that the party is over for Netflix. In our view, until the stock breaks below the $178 level, the uptrend has to be respected. Investors that have sold on any prior pullbacks in the stock are still kicking themselves.