The recent charts for the three storage giants look genuinely rough, with all three stocks weakening in near unison.
SanDisk is trading at 1,454, and has remained below the EMA55 (1,488). Its RSI6 is just 36, while the MACD bearish histogram continues—any rebound could easily turn into a dead-cat bounce. SK hynix is at 1,071, below all its moving averages. Its RSI6 of 31.9 is nearing oversold territory, and its K value has fallen to 23.5, on top of the negative news that HBM4 capacity expansion has been delayed. Micron is at 946 and is likewise capped by 973. The MACD has turned slightly positive, but there’s no sign of a reversal.
The three stocks show highly similar patterns, and the storage sector as a whole remains in a downtrend. Until prices break above the moving averages on strong volume, trying to catch the bottom is likely to mean catching a falling knife.
This is a review of market activity and does not constitute trading advice.#BTC #ETH
SanDisk is trading at 1,454, and has remained below the EMA55 (1,488). Its RSI6 is just 36, while the MACD bearish histogram continues—any rebound could easily turn into a dead-cat bounce. SK hynix is at 1,071, below all its moving averages. Its RSI6 of 31.9 is nearing oversold territory, and its K value has fallen to 23.5, on top of the negative news that HBM4 capacity expansion has been delayed. Micron is at 946 and is likewise capped by 973. The MACD has turned slightly positive, but there’s no sign of a reversal.
The three stocks show highly similar patterns, and the storage sector as a whole remains in a downtrend. Until prices break above the moving averages on strong volume, trying to catch the bottom is likely to mean catching a falling knife.
This is a review of market activity and does not constitute trading advice.#BTC #ETH