SNDK 1479: A pile of money is scrambling to buy on the order book, yet the spot market’s sell wall doesn’t budge at all—the price simply won’t move up.
In the spot market, only 0.229 remains for the 20-level bid/ask ratio. The sell order thickness is more than four times that of the buy side. That wall is pressing down overhead, and nobody is willing to take orders above 1479.
On the futures side, the aggressive buying volume expanded by 56% over seven hours, accounting for 56.4%. Big long accounts are still adding, but the price still closes below the 15-minute double moving averages. Both the 4-hour chart and the daily chart are still DOWN. Money has come in, but the price doesn’t respond—that’s money for catching a falling knife, not lifting the sedan.
Open interest (OI) is up 5.39% in a day. The more positions stack up, the more cramped it gets. Funding/fees are also still sitting in positive territory—every minute longs have to hold, they pay interest. With weak spot follow-through and futures accumulating, the harder people buy now, the more fuel there will be later to squeeze the shorts.
To short SNDK, the direction is to let this wall get smashed down. The day the spot bid/ask ratio flips back above 1 and the price retests 1564 is when the sell wall has truly been eaten—at that point, the short thesis becomes invalid. #sandisk $SNDK
In the spot market, only 0.229 remains for the 20-level bid/ask ratio. The sell order thickness is more than four times that of the buy side. That wall is pressing down overhead, and nobody is willing to take orders above 1479.
On the futures side, the aggressive buying volume expanded by 56% over seven hours, accounting for 56.4%. Big long accounts are still adding, but the price still closes below the 15-minute double moving averages. Both the 4-hour chart and the daily chart are still DOWN. Money has come in, but the price doesn’t respond—that’s money for catching a falling knife, not lifting the sedan.
Open interest (OI) is up 5.39% in a day. The more positions stack up, the more cramped it gets. Funding/fees are also still sitting in positive territory—every minute longs have to hold, they pay interest. With weak spot follow-through and futures accumulating, the harder people buy now, the more fuel there will be later to squeeze the shorts.
To short SNDK, the direction is to let this wall get smashed down. The day the spot bid/ask ratio flips back above 1 and the price retests 1564 is when the sell wall has truly been eaten—at that point, the short thesis becomes invalid. #sandisk $SNDK
