Down 21.35% in a day, $SNDKB is trading at 817.64. Some think it’s fallen far enough to buy the dip; others think this is just the beginning.
It’s slid all the way down from 1,044.3, and the current price is just a step away from the 24-hour low of 794.03. For those holding, the hardest part right now isn’t how much it’s fallen—it’s not knowing how much further it might drop. Those sitting on the sidelines and thinking of making a move are just as torn: afraid of buying the dip halfway down, or shorting just as the move is ending.
My view is to look in the direction of a short, with a reference range of 817.64–919.19: if a rebound weakens near 919.19, consider it then. This idea is invalidated if the price gets back above 1,044.3. The initial target is around 730.00, with a risk/reward ratio of about 1.5 (calculated using 919.19 as the reference, 1,044.3 as the invalidation level, and 730.00 as the target). 24-hour trading volume is $94.6 million. The selling pressure is real, not a low-volume, gradual decline, so this isn’t a good place to try to call the bottom. Risk level: High.
At this point, do you think shorting is going with the trend, or chasing it after the fact?
For reference only, not investment advice. Pay attention to position sizing.
#SNDKB #Trading opportunity
It’s slid all the way down from 1,044.3, and the current price is just a step away from the 24-hour low of 794.03. For those holding, the hardest part right now isn’t how much it’s fallen—it’s not knowing how much further it might drop. Those sitting on the sidelines and thinking of making a move are just as torn: afraid of buying the dip halfway down, or shorting just as the move is ending.
My view is to look in the direction of a short, with a reference range of 817.64–919.19: if a rebound weakens near 919.19, consider it then. This idea is invalidated if the price gets back above 1,044.3. The initial target is around 730.00, with a risk/reward ratio of about 1.5 (calculated using 919.19 as the reference, 1,044.3 as the invalidation level, and 730.00 as the target). 24-hour trading volume is $94.6 million. The selling pressure is real, not a low-volume, gradual decline, so this isn’t a good place to try to call the bottom. Risk level: High.
At this point, do you think shorting is going with the trend, or chasing it after the fact?
For reference only, not investment advice. Pay attention to position sizing.
#SNDKB #Trading opportunity