Trading Insights: Asian storage stocks rebound strongly after testing the 50-day moving average, positions in Kioxia and SK Hynix have been replenished
BlockBeats reports that on July 3, trader 3X Long Labubu stated that during the Asian trading session, storage stocks Kioxia and SK Hynix rebounded strongly after testing the 50-day exponential moving average (EMA). Combined with a 30-minute pivot point signal, the trader decided to repurchase both storage stocks and set the 50-day EMA as the stop-loss level. The trader has decided to adjust their strategy by selectively replenishing positions, while hoping that Micron and SanDisk can replicate similar price movements next Monday.
The trader believes that the Korea KOSPI index, as a leading indicator in the semiconductor cycle, should be closely monitored, especially the 50-day moving average.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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