SAMSUNG is now around 189.6. When I looked a few days ago, it was at 162. This move ran all the way up to 196. Today it pulled back again.
After this, it’s actually at a position where we should be more cautious.
The issue is the funding/position structure. The contract open interest dropped by more than 15% in a day, which suggests that a good portion of this rally was built on leverage. Now the leverage is being withdrawn. Even in the active order flow, sell orders are pressing down on buy orders—short-term longs haven’t gained much.
The big players’ actions are even more direct. The whale accounts are still net long by number of accounts, but by position size they’ve flipped to the slightly bearish side, and they’ve been cutting longs for the past seven hours. To put it simply: after the price rose, big capital didn’t choose to add; instead, they sold off from high levels. This signal matters more than the price itself.
The price has also fallen back below the 20-line and the 50-line. In the four-hour chart, it dropped 3 points: it slid from the high of 196.5 all the way to 189.6, trading near the day’s low of 188. In the spot order book, buy-side volume is only a bit thicker, but net inflow of large orders is still zero. That kind of support can’t hold up much buying.
So at this level, I won’t chase longs. The upside was propped up by leverage, leverage is being removed, and big players are reducing positions. In the short term, overhead pressure is more obvious than support. I’ll wait for the pullback toward the 188 area and see if it can be held. If it holds, we’ll wait for additional incremental capital to come back before deciding. If it can’t hold, we continue to wait.
#samsung $SAMSUNG