Those who still thought it was stable just a couple of days ago must be feeling pretty rough today. $SNDKB fell 6.74% in a day, to 860.97, with not much cushion left above the 14-day low of 790.72.
The RSI is already down to 31.7. The drop has been both sharp and relentless, so it does look a bit oversold in the short term—but oversold doesn’t mean it’s done falling. There’s not much support below; if it loses its footing here, it’ll make a new low.
I could be wrong, but at this level I’d rather wait than rush to buy the dip. If it holds 790.72 and the RSI turns upward, though, I’ll have to rethink things.
With it this oversold, do you believe in a rebound or in the trend?
$SNDKB
#SNDKB #MarketAnalysis
The RSI is already down to 31.7. The drop has been both sharp and relentless, so it does look a bit oversold in the short term—but oversold doesn’t mean it’s done falling. There’s not much support below; if it loses its footing here, it’ll make a new low.
I could be wrong, but at this level I’d rather wait than rush to buy the dip. If it holds 790.72 and the RSI turns upward, though, I’ll have to rethink things.
With it this oversold, do you believe in a rebound or in the trend?
$SNDKB
#SNDKB #MarketAnalysis