$SKHYNIX Hynix nailed it in its short—right in the crash!!
The target 1165–1145 was hit perfectly, and the chart basically took the midpoint lol. And 1270 is very likely the recent top for Hynix. In the morning Asian session, the market saw a push up. It quickly touched the resistance area and then got dumped. Basically, it rose by how much, it got sold off by how much— and even now, there are still no signs of the down move stopping.
Looks like sell pressure from above is still quite strong. Of course, it’s not out of the question that the project side is dumping to trigger a breakout upward to squeeze the long side… heh. Either way, our short position is in place: grabbing a 2.2% upside move is enough!!
For Hynix shorts, if you want to play it safe you can hold/execute directly. If you want to take a more aggressive bet, you can keep half a position; adding more on a further push up is also totally fine. The target is still lower, continuing to watch for 1145–1130. Personally, I remain bearish on Hynix and would stick to the “sell into rallies from higher levels” approach.
The target 1165–1145 was hit perfectly, and the chart basically took the midpoint lol. And 1270 is very likely the recent top for Hynix. In the morning Asian session, the market saw a push up. It quickly touched the resistance area and then got dumped. Basically, it rose by how much, it got sold off by how much— and even now, there are still no signs of the down move stopping.
Looks like sell pressure from above is still quite strong. Of course, it’s not out of the question that the project side is dumping to trigger a breakout upward to squeeze the long side… heh. Either way, our short position is in place: grabbing a 2.2% upside move is enough!!
For Hynix shorts, if you want to play it safe you can hold/execute directly. If you want to take a more aggressive bet, you can keep half a position; adding more on a further push up is also totally fine. The target is still lower, continuing to watch for 1145–1130. Personally, I remain bearish on Hynix and would stick to the “sell into rallies from higher levels” approach.