$SKHYNIX ‌ Guys, this round SKHYNIX is topping the Korean market slump. In the past 24 hours, it rallied against the trend by more than 4 points, and after hitting a high of 1272 it suddenly reversed and fell fast!


The bulls used the positive news from a surge in Hong Kong stock leveraged ETFs to force a short squeeze, but then got hit by profit-taking selling. Although the chairman urged, “Just leave it alone and don’t touch it,” don’t forget the ADR conversion on July 29 has a premium of over 25%—be careful of the risk of having that premium wiped out at any time.
In the short term, the overhead ceiling resistance is in the 1272 - 1300 area. The downside floor support is in the 1155 - 1160 area.
SKHYNIX1.23%
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