$SKHYNIX Micron surged then failed; the next level is crucial!
At the open, price dropped from 1409 down to 1325. This sharp sell-off and shakeout really scared a lot of the chasing brothers!
In the blink of an eye, the bulls violently V-pulled it back to 1373. The 1-hour candlestick has returned to stand above the Bollinger middle band (1356), and the day’s trading volume blasted to $1.3 billion.
The pattern is obvious: the main force used the early profit-taking sell pressure to put the market through an ultra-fast deep squat, washing out all the unsteady floating positions.
Tonight’s execution points are extremely important:
The 1356 middle band has become the bulls’ most critical line of defense. As long as it retraces and does not break below 1356, the outlook is likely for a second test of 1400 and possibly a breakout above the prior high at 1410.
If it gets smashed back through 1350 again, it indicates that the V-rebound momentum has run out, and in the short term it will likely pull back to retest 1325 for support.
When placing trades, don’t go all-in at once: buy the pullback at low levels, push stops up with the rebound, take profit-lock by setting the stop at 1350.
If you don’t have a position, wait for the pullback around 1360 to stabilize before acting.
If it breaks below 1340, do not hold on—be decisive!
$MU
At the open, price dropped from 1409 down to 1325. This sharp sell-off and shakeout really scared a lot of the chasing brothers!
In the blink of an eye, the bulls violently V-pulled it back to 1373. The 1-hour candlestick has returned to stand above the Bollinger middle band (1356), and the day’s trading volume blasted to $1.3 billion.
The pattern is obvious: the main force used the early profit-taking sell pressure to put the market through an ultra-fast deep squat, washing out all the unsteady floating positions.
Tonight’s execution points are extremely important:
The 1356 middle band has become the bulls’ most critical line of defense. As long as it retraces and does not break below 1356, the outlook is likely for a second test of 1400 and possibly a breakout above the prior high at 1410.
If it gets smashed back through 1350 again, it indicates that the V-rebound momentum has run out, and in the short term it will likely pull back to retest 1325 for support.
When placing trades, don’t go all-in at once: buy the pullback at low levels, push stops up with the rebound, take profit-lock by setting the stop at 1350.
If you don’t have a position, wait for the pullback around 1360 to stabilize before acting.
If it breaks below 1340, do not hold on—be decisive!
$MU
