Follow and stay tuned for great returns. Hello everyone, I am analyst Gu Jingci, and I share my insights here in hopes that everyone who follows can achieve good profits!
There have been continuous bullish developments for SNDK in the past few days. The price has rebounded steadily from below 1000 to the current high of around 1770, almost doubling from the bottom. In the short term, there have been multiple wicks testing higher levels and facing obvious resistance above. On the 4-hour chart, a small bearish candle with shrinking volume has appeared, indicating weakening short-term upward momentum and a possible correction ahead. Technical indicators: In the 4-hour chart, the DIF line has crossed below the DEA line, forming a bearish crossover, and the MACD histogram has turned negative. Meanwhile, while the price reached new highs, the DIF line did not, showing a clear bearish divergence and suggesting that short-term upward momentum is exhausted and the risk of a pullback is increasing.
Strategy suggestion: Consider short positions on SNDK around 1730 to 1750, with a target range of 1640 to 1670, and a stop-loss at 1780.
