$SNDK Interest rate hike lands and the price rises— is this a counterattack or a bull trap?
With the Federal Reserve’s rate hike delivered, those waiting for a drop to buy cheaply instead got a rebound from SanDisk. If the news was read correctly, why did the market act the opposite?
Rate-hike expectations may have been priced in early, and after the announcement there could also be short-covering. But how long this buying pressure can hold is what to watch next.
Following the price levels from the perpetual chart earlier: bounce from 1507 back to 1633, a rebound of more than 100 points. The nearby resistance at 1640—1655 still needs to be cleared.
If it breaks above 1655 on higher volume and holds on any pullback, the counterattack will have more confidence. Then look higher toward 1670—1700.
If it spikes into the resistance zone and then retreats, don’t rush to call a reversal—especially if it surges and then falls back below 1600. In that case, people who chased the rally may find themselves trapped again.
For support, first watch 1600—1610. If a pullback stabilizes there, the rebound may have room to continue. If it breaks below 1600 and the subsequent retest can’t reclaim the level, then look to 1580—1590 for support.
I’ll wait for the pullback to stabilize, or for a breakout to confirm, before considering a small-position entry, with the stop-loss set in advance. The rate hike didn’t crush it—worth paying attention. Whether resistance can be turned into support is what will determine how far this move can go.@交易员老川 #日本央行加息至31年高位
With the Federal Reserve’s rate hike delivered, those waiting for a drop to buy cheaply instead got a rebound from SanDisk. If the news was read correctly, why did the market act the opposite?
Rate-hike expectations may have been priced in early, and after the announcement there could also be short-covering. But how long this buying pressure can hold is what to watch next.
Following the price levels from the perpetual chart earlier: bounce from 1507 back to 1633, a rebound of more than 100 points. The nearby resistance at 1640—1655 still needs to be cleared.
If it breaks above 1655 on higher volume and holds on any pullback, the counterattack will have more confidence. Then look higher toward 1670—1700.
If it spikes into the resistance zone and then retreats, don’t rush to call a reversal—especially if it surges and then falls back below 1600. In that case, people who chased the rally may find themselves trapped again.
For support, first watch 1600—1610. If a pullback stabilizes there, the rebound may have room to continue. If it breaks below 1600 and the subsequent retest can’t reclaim the level, then look to 1580—1590 for support.
I’ll wait for the pullback to stabilize, or for a breakout to confirm, before considering a small-position entry, with the stop-loss set in advance. The rate hike didn’t crush it—worth paying attention. Whether resistance can be turned into support is what will determine how far this move can go.@交易员老川 #日本央行加息至31年高位
