Nov. 10, Tuesday Market Overview: SKHY (SK Hynix) Returns to the Trading Range

After SKHY on the Korean stock market plunged and triggered a circuit breaker a few days ago, it surged enough to trigger one again today. Korean investors are experiencing both extremes—their roller-coaster ride is quite exhilarating.

SKHY retested support at 123.73 several times, forming a small W-bottom pattern before rebounding back into the 130.49-152.14 trading range

130.49 resistance has turned into support—a resistance/support flip. A retest can be an opportunity to enter a small long position

141.63 is the midpoint of the trading range, where the descending trendline and resistance converge. It can be viewed as a T1 level for reducing positions

152.14 is resistance for the trading range and the starting point of this pullback, where selling pressure remains. It is also the final area to reduce positions and set up short positions

CPI data is due at 9:30 tonight. Based on recent macroeconomic and nonfarm data, the market will move down first and then up

Set up a small, low-leverage long position at 127.19; use the previous low of 120.19 as the defensive level, with targets near 134.19 and 148.19

Set up a short position at 152.19; use 162.69 as the defensive level, with targets near 142.69 and 132.69

If you come across this post, please take a moment to follow, like, and comment—your support means the most to me. Thank you! The information above is for market analysis only and is not intended for trade execution;
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