The "Chinese Netflix" iQiyi Inc. (IQ) rebounded to $28 in 2019 from a low near $14.50 at the end of 2018. However, since that $28 high in February/March, price has been retreating again. It is now hanging around $18. I think in the short-term, there is some upside back to the $21-$22 area if it can hold above $18 in June.IQ Daily Chart(click to enlarge)Bullish Divergence:- The overall market since April 2018 looks bearish-neutral.- But the price action in 2019 has been strong enough to suggest that the market has stabilized after the initial "pump and dump".- Recently, the price lows has developed a bullish divergence against the RSI lows.- I think within the context of a sideways market, we will see a short-term bounce towards the $21-$22 area, which will be a key resistance.- I limit the my bullish anticipation to $21-$22 in case there is still more bearish pressure. This area has been a key support/resistance pivot area. - A break above $22.25 on the other hand would give me more confidence of the upside.Disclosure: I have exposure to IQ as well as competitors $BABA and $TCEHY as well as $HUYA and $YY. I think the Chinese consumption of video content will continue to grow, so there's a bit of a shotgun approach here, except I have most of that exposure in BABA and TCEHY, the more established names.