SK Hynix is consolidating after a -43.4% correction from its 3-month high. The question: Is this the bottom or just a pause before more pain?
📊 SK Hynix (000660.KS) Snapshot:
Price: ₩1,653,000, down -2.07%. RSI at 51 — neutral. Consolidation pattern on the chart. Volume declining at 0.63x normal.
Price is above the 20-day SMA (₩1,585,300) but far below the 50-day (₩1,967,080). This tells me the medium-term trend is still bearish, but short-term is stabilizing.
💡 Why This Matters:
Consolidation after a massive correction can be accumulation or distribution. Declining volume suggests sellers are exhausting, but buyers haven't stepped in aggressively yet.
📍 Key Levels:
• Support: ₩1,500,000 (psychological) / ₩1,322,000 (3-month low)
• Resistance: ₩1,967,080 (SMA50) / ₩2,628,000
⚡ Watch for a volume breakout above ₩1,700,000 as a bullish signal.
👇 Is the memory chip cycle bottoming? Would you buy SK Hynix here?
#SKHynix #Semiconductors #DYOR
⚠️ Not financial advice. Do your own research. Stock markets carry risk.