Down 9.68% in a day, $SNDKB slid from 965.12 all the way to 867.80, just one step away from the 24-hour low of 849.68. This kind of drop is especially painful for holders: sell, and you fear selling at the bottom; hold, and you fear another leg down.
In plain English: 849.68 is the 24-hour low; breaking below it would make a new low. Only if it rebounds to the midpoint line at 907.40 can the bears finally breathe a little easier.
Direction: Watch for a short—not a signal to chase right now. Reference range: 849.68–907.40. Invalidation level: above 907.40. Target: 791.96. Risk level: High. Based on the current price of 867.80, the loss at the invalidation level would be about 39.60, while reaching the target would yield about 75.84, for a risk-reward ratio of roughly 1.9.
With this risk-reward ratio, would you take the trade, or would you rather let it pass?
For reference only, not investment advice. Please manage your position size.
$SNDKB
#SNDKB #TradingOpportunity
In plain English: 849.68 is the 24-hour low; breaking below it would make a new low. Only if it rebounds to the midpoint line at 907.40 can the bears finally breathe a little easier.
Direction: Watch for a short—not a signal to chase right now. Reference range: 849.68–907.40. Invalidation level: above 907.40. Target: 791.96. Risk level: High. Based on the current price of 867.80, the loss at the invalidation level would be about 39.60, while reaching the target would yield about 75.84, for a risk-reward ratio of roughly 1.9.
With this risk-reward ratio, would you take the trade, or would you rather let it pass?
For reference only, not investment advice. Please manage your position size.
$SNDKB
#SNDKB #TradingOpportunity