$SKHYNIX I’m bearish on this position.

From the chart, it’s reacting strongly to moving-average resistance; the shorts are tightening their net. Next, it’s very likely to see a break-and-fall move lower. If you want to trade, watch the range from 1159.6 to 1165.4. On the downside, look toward 1106.0 and even 1060.8. Put your defense at 1200.4.

However, watch the risk: if it suddenly and strongly recovers 1161.0, it could trigger a short squeeze that drives price directly to test the 1167.0 resistance. Everyone, don’t get carried away and go all-in; control your position size according to your account. $SOXL $SKHY