$SNDK $SKHYNIX Will the big players continue to crush the bulls tonight?
Storage and semiconductor stocks rebounded across the board before the market opened. Is this an oversold bounce?
The intraday rebound was mainly driven by the new Texas governor taking a softer stance on AI data centers. He said he would not oppose their construction, but required them to bring tangible benefits to local communities rather than simply consuming land, electricity, and water. This is undoubtedly good news for chip stocks, and it has also eased market sentiment.
But Caibao believes this looks more like a short-term recovery sparked by positive news than a reversal in the trend! I remain bearish on the broader direction, and would still prioritize selling into rallies!
Key levels to watch on a rebound: short near 960, with an initial target around 850; for Hynix, short near 900, with a target around 835!
Don't rush to go long just because you see one bullish rebound candle. The market is likely to remain weak today, Friday!
Storage and semiconductor stocks rebounded across the board before the market opened. Is this an oversold bounce?
The intraday rebound was mainly driven by the new Texas governor taking a softer stance on AI data centers. He said he would not oppose their construction, but required them to bring tangible benefits to local communities rather than simply consuming land, electricity, and water. This is undoubtedly good news for chip stocks, and it has also eased market sentiment.
But Caibao believes this looks more like a short-term recovery sparked by positive news than a reversal in the trend! I remain bearish on the broader direction, and would still prioritize selling into rallies!
Key levels to watch on a rebound: short near 960, with an initial target around 850; for Hynix, short near 900, with a target around 835!
Don't rush to go long just because you see one bullish rebound candle. The market is likely to remain weak today, Friday!
