Midsummer Nightmares II: Summer's End

Three years after Danielle Waters (Stacey Freeders) terrorized Audrey Small (Christy Faulkner), killing several of her friends, Audrey is closed off and pushing away everyone that cares about her. Her ex-boyfriend Rob (Scott Gillespie) is dating a married woman and she has little contact with former friends Diana Cross (Taylor Buchanan) and Cadence (Kelci C. Magel), the twin sister of Audrey's friend Liz, who was murdered by Danielle.

However, Danielle is still alive and begins to kill everyone around Audrey, and kidnapping Rob after killing his new girlfriend. After discovering the body of mutual friend Grier, Audrey and Daisy call Cadence and tell her to get out of the house, but Cadence is killed along with her boyfriend Lenny, her stepbrother Vincent, and another girl, Stephanie. When Diana and Audrey arrive and find Cadence dead, they try to spring a trap against Danielle, but that only results in the death of Diana and Cadence's father Wayne.

Danielle gets the drop on Audrey (who gets stabbed in the process) thanks to her accomplice Alex (Mike Reeves) who is revealed to actually be James, Danielle's brother. Danielle proceeds to monologue about how killing Audrey will free her of her anger. When Audrey asks why James is helping, she uses the distraction to kill him. Having the upper hand, Audrey learns Rob is tied up in the basement and orders Danielle to untie him. As Audrey and Rob begin to make peace and declare their love for each other, Danielle knocks Audrey out of the way and cuts Rob's throat. Devastated, Audrey fights Danielle, getting stabbed again. Audrey gets on top of Danielle, stabbing Danielle in the throat, finally killing her. Audrey drops the knife and begins to breathe heavily, her head resting on Danielle body, before apparently dying of her stab wounds.

However...in a post credit scene we see a close up of Audrey's hand holding the knife, her fingers moving slightly, implying she might still be alive after all.

Thanks Tim (Spectre)!