SNDK saw an intraday pullback at 1330, stabilized, then surged in a one-way rally, topping at 1580 and delivering nearly a 250-point gain. During the day, we had indicated first looking for a retracement to 1340–1320, then buying on dips with an eye on 1400; after a breakout, follow through by targeting the previous high. The market moved exactly as expected, and we precisely captured the rhythm of the pullback and rebound.
From the current chart, SNDK has entered an explosive short-term rally. After pushing higher, there has been a slight pullback, and it is currently in a high-level consolidation phase digesting the move.
On the daily timeframe, after a period of deep decline, the market has turned into a strong rebound. Price is trading above the Bollinger middle band, and in the larger cycle it is a rebound following oversold conditions. However, there is overhead resistance from prior bag-holding pressure, so chasing highs carries significant risk.
On the 4-hour timeframe, the Bollinger Bands have widened sharply upward, and price quickly surged along the upper band, showing strong bullish momentum. On the 1-hour timeframe, price surged to 1580 and then faced resistance and pulled back. The upper band of the Bollinger Bands has expanded upward as well, suggesting a need for short-term pullback and repair. It is not advisable to blindly chase long positions.
Trading outlook
For SNDK, consider a pullback around 1450–1430 (in the meantime), then look higher toward 1620–1700.
If it holds above 1620, the bulls will likely continue to open up more upside space. If it breaks below the 1450 support, this strong rebound phase will likely come to an end, followed by a deeper pullback.#美国7月CPI与PPI数据本周出炉 $SNDK
From the current chart, SNDK has entered an explosive short-term rally. After pushing higher, there has been a slight pullback, and it is currently in a high-level consolidation phase digesting the move.
On the daily timeframe, after a period of deep decline, the market has turned into a strong rebound. Price is trading above the Bollinger middle band, and in the larger cycle it is a rebound following oversold conditions. However, there is overhead resistance from prior bag-holding pressure, so chasing highs carries significant risk.
On the 4-hour timeframe, the Bollinger Bands have widened sharply upward, and price quickly surged along the upper band, showing strong bullish momentum. On the 1-hour timeframe, price surged to 1580 and then faced resistance and pulled back. The upper band of the Bollinger Bands has expanded upward as well, suggesting a need for short-term pullback and repair. It is not advisable to blindly chase long positions.
Trading outlook
For SNDK, consider a pullback around 1450–1430 (in the meantime), then look higher toward 1620–1700.
If it holds above 1620, the bulls will likely continue to open up more upside space. If it breaks below the 1450 support, this strong rebound phase will likely come to an end, followed by a deeper pullback.#美国7月CPI与PPI数据本周出炉 $SNDK