Hynix $SKHYNIX : Pullback levels after surging to 899
The Asian session saw a high-volume bullish breakout. After dipping to 810 early in the morning, price surged sharply toward the 900 mark, reaching a high of 899.09. It is now consolidating around 885 after a low-volume pullback on the 1-hour chart.
Focus on the key neckline/support at 870:
- As long as the 870~875 range holds, this is a healthy pullback after the surge. Consider scaling in with small positions in the 875~882 range to target a second push toward 900;
- Set a stop-loss at 855 (a decisive break below this level would signal that the morning rebound has run out of steam; bulls should exit decisively and accept the loss);
- First resistance above is 900 (a psychological milestone and the intraday high). If price breaks through on strong volume, the next target is the extreme resistance at 935.
The risk/reward ratio for chasing the rally is average. It’s safer to be patient and wait for a pullback to enter. Always use a firm stop-loss.
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English Setup:
Key Resistance: 900 / 935
Critical Support: 870 - 875
Invalidation: 855 (Cut if broken)
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Bull-or-bear poll: After a sharp morning rebound of nearly 11% toward the 900 mark, is this a bull trap and distribution—or a confirmed reversal? Join the discussion in the comments!
$SKHYNIX #TradFi #BinanceSquare
The Asian session saw a high-volume bullish breakout. After dipping to 810 early in the morning, price surged sharply toward the 900 mark, reaching a high of 899.09. It is now consolidating around 885 after a low-volume pullback on the 1-hour chart.
Focus on the key neckline/support at 870:
- As long as the 870~875 range holds, this is a healthy pullback after the surge. Consider scaling in with small positions in the 875~882 range to target a second push toward 900;
- Set a stop-loss at 855 (a decisive break below this level would signal that the morning rebound has run out of steam; bulls should exit decisively and accept the loss);
- First resistance above is 900 (a psychological milestone and the intraday high). If price breaks through on strong volume, the next target is the extreme resistance at 935.
The risk/reward ratio for chasing the rally is average. It’s safer to be patient and wait for a pullback to enter. Always use a firm stop-loss.
---
English Setup:
Key Resistance: 900 / 935
Critical Support: 870 - 875
Invalidation: 855 (Cut if broken)
---
Bull-or-bear poll: After a sharp morning rebound of nearly 11% toward the 900 mark, is this a bull trap and distribution—or a confirmed reversal? Join the discussion in the comments!
$SKHYNIX #TradFi #BinanceSquare