That drop probably woke quite a few people up. $SNDKB fell 8.58% in a day to 861.80, just a step above the 24-hour low of 849.68.
Those holding it are having the hardest time right now: it’s slid all the way down from 966.71. Sell, and you’re afraid you’ll sell at the bottom; hold, and you’re afraid another leg down is coming. In plain English: the drop has been sharp and relentless. The RSI is already at 31.4, so it looks a bit oversold in the short term—but oversold doesn’t mean it’s done falling.
Bias: watch for a short. Reference range: 849.68–908.19. The setup is invalidated if it moves above 908.19. Target: 790.72. Risk level: high. Risk/reward ratio: about 1.5.
With this risk/reward ratio, would you take the trade, or would you rather sit it out?
For reference only, not investment advice. Pay attention to position sizing.
$SNDKB
#SNDKB #Trading Opportunity
Those holding it are having the hardest time right now: it’s slid all the way down from 966.71. Sell, and you’re afraid you’ll sell at the bottom; hold, and you’re afraid another leg down is coming. In plain English: the drop has been sharp and relentless. The RSI is already at 31.4, so it looks a bit oversold in the short term—but oversold doesn’t mean it’s done falling.
Bias: watch for a short. Reference range: 849.68–908.19. The setup is invalidated if it moves above 908.19. Target: 790.72. Risk level: high. Risk/reward ratio: about 1.5.
With this risk/reward ratio, would you take the trade, or would you rather sit it out?
For reference only, not investment advice. Pay attention to position sizing.
$SNDKB
#SNDKB #Trading Opportunity