NFLX (1W) – Corrective phase at key 0.5 retracementNetflix, Inc.BATS:NFLXEdoLab-MarketsOn the weekly chart, Netflix is developing a corrective phase after the structural impulse that began in mid-2022. The bullish leg was consistent, with clear higher highs and higher lows, and an increasingly vertical slope since 2023. The current correction is reacting around the 0.5 Fibonacci retracement of the last major impulse. This level is technically relevant. The 0.5 often acts as an intermediate zone within healthy primary trends. It does not imply a structural reversal by itself, but it is a meaningful validation area. When comparing previous impulses in Netflix’s historical structure, extended vertical phases have typically been followed by proportional pullbacks before continuation or structural redefinition. In past cycles, corrections into the 0.382–0.5 range have acted as consolidation zones before new bullish legs, while deeper extensions toward 0.618 have aligned with more prolonged corrective phases. The current situation technically fits within that historical behavior. As long as price holds above the 0.5 retracement, the move can be interpreted as a pullback within a broader uptrend. A clear loss of this level would open the path toward 0.618, where the structure would shift into a deeper corrective environment. At this stage, there is no confirmed structural breakdown on the weekly timeframe. The current movement appears consistent with a cooling phase after an extended advance rather than a confirmed trend reversal. The key now is not to predict the next move, but to observe whether price builds structure from this level. Higher lows and stabilization around this area would favor continuation. Progressive deterioration together with a clean loss of the level would suggest a more defensive scenario. Netflix is positioned at a technically meaningful decision point within its long-term structure.