One beaten-down video broadcasting player whose insiders are snapping up a notable amount of stock is Netflix ( NFLX), an Internet subscription service streaming television shows and movies. Insiders are buying this stock into some extreme weakness since shares are off by around 34% in the last three months. Netflix has a market cap of $4.58 billion and an enterprise value of $4.04 billion. This stock trades at a premium valuation, with a trailing price-to-earnings 27.90 and a forward price-to-earnings of 37.47. Its estimated growth rate for this year is -98.1%, and for next year it's pegged at 2,650%. This is a cash-rich company, since the total cash position on its balance sheet is $804.53 million and its total debt is $400 million. After you back out the debt, Netflix has $404.53 million in cash on its balance sheet. A director just bought 6,000 shares, or $510,000 worth of stock, at $85.05 per share. From a technical perspective, NFLX is currently trading below both its 50-day and 200-day moving averages, which is bearish. This stock has been stock in a nasty downtrend for the past two months, with shares consistently making lower highs and lower lows, which is bearish technical price action. This stock recently gapped down big from over $100 to below $90 a share on heavy volume. That gap-down didn't stop the stock from continuing its slide lower, since NFLX hit a low of $79 a share just a few days ago. If you're a bullish on NFLX, you could look for long-biased trades here and simply put a stop right below that recent low of $79 a share. This stock is starting to get oversold since its current relative strength index (RSI) reading is 25.15. A tradable bounce could be setting up for NFLX if it can hold that $79 level. That said, oversold can always get more oversold so make sure you see high-volume strength before you look for an oversold bounce. I would consider any notable upside volume day that registers volume of near or above 6.08 million shares as bullish. Another bullish trade to watch for in NFLX is if this stock can manage to sustain a move or close above its gap down day high of $90 a share with high-volume. Any high-volume move back into that gap could easily spike this stock significantly. I would simply avoid NFLX or look for short-biased trades if it takes out that near-term support at $79 a share with high-volume. A high-volume selloff below $79 could setup a continuation of its current downtrend pattern towards its next significant support zones at $67 to $62.37 a share. I also featured Netflix, one of 4 Battleground Stocks Fought Over by the Biggest Investors, recently in " 5 Stocks Set to Soar on Bullish Earnings."