$SNXXB: Long at $7.23 After a 38% Flush From $10.19
I'm in $SNXXB at $7.23. This is the bStocks token for the Tradr 2X Long SanDisk ETF, so it moves at twice SanDisk's daily pace in both directions.
Here's why I'm long. It fell from $10.19 to a $6.30 wick on 10/30, then held $6.67–$7.28 for three days. The 1h candles have printed higher lows since this morning ($6.82, then $6.97), and 24h is +4.7% at $7.11 on ~$849K volume. The daily RSI is 33, near oversold. From what I've seen, washed-out leveraged products often bounce hard once sellers run dry.
Key level: $6.82. A 1h close below it and I'm out.
TP1: $7.93 (the 10/26 low)
TP2: $8.61 (the 10/29 close)
At 2x leverage, size small and respect the stop.
Is this a base for $SNXXB, or just a pause before the next leg down?
Not financial advice.
I'm in $SNXXB at $7.23. This is the bStocks token for the Tradr 2X Long SanDisk ETF, so it moves at twice SanDisk's daily pace in both directions.
Here's why I'm long. It fell from $10.19 to a $6.30 wick on 10/30, then held $6.67–$7.28 for three days. The 1h candles have printed higher lows since this morning ($6.82, then $6.97), and 24h is +4.7% at $7.11 on ~$849K volume. The daily RSI is 33, near oversold. From what I've seen, washed-out leveraged products often bounce hard once sellers run dry.
Key level: $6.82. A 1h close below it and I'm out.
TP1: $7.93 (the 10/26 low)
TP2: $8.61 (the 10/29 close)
At 2x leverage, size small and respect the stop.
Is this a base for $SNXXB, or just a pause before the next leg down?
Not financial advice.