Today, SNDK's price action has once again been technically shocking. On Wednesday, it just bounced from the bottom with a bullish candlestick. In the morning, I predicted in the group and on Twitter that SNDK would oscillate near the densely packed long-term moving averages.

After breaking above the 30MA at the open, the next target was the 20MA, around $1876.
Unexpectedly, at noon, the zero-day options gambling revived, with the 2000 Call topping the volume list. Under options pressure, SNDK surged as much as 13% and even broke above 1950. I thought the resistance line had failed and that we would hit 2000 today.
But no matter how I looked at it, something felt off, and in the last hour it was indeed knocked back down just as it had risen.
Ultimately, SNDK closed at 1858, precisely sitting above the 30MA and below the 20MA (1817-1878). Within such a narrow band of moving averages, the volatile SNDK actually formed a long upper shadow and gave back all of its midday gains.
I really don't know whether it's bots dominating this week's trading or if they are actually following my Twitter to trade.
But regardless, the conclusion is now quite simple: the bears are not dead yet, this rebound still has the potential to be a dead cat bounce, and the probability of sideways consolidation for a month has greatly increased.
Tomorrow's price action will be more nuanced.
Worst case: SK Hynix's IPO breaks below its listing price or creates a capital drain effect; below, SNDK has a gap to fill, which is the gap-up open from today, at Wednesday's close of 1737.
Best case: SK Hynix's listing leads the memory sector in a last-ditch fight, a counterattack from the brink. SNDK returns to its intraday high and even breaks above 2000.
Which one will it be? Technical analysis cannot predict it for you; we'll just have to wait and see. Personally, I slightly lean toward the former, with a probability split of 60% to 40%.
PS: The moving average I'm using here is EMA, which may differ slightly from the simple MA numbers.
Thank you all.