Starting today, I will discuss two US stocks and one Korean index.
They have been added to my watchlist.
The screenshot shows SNDK SanDisk.
In May, June, and July this year, I posted many articles related to US stocks, with lots of analysis, and I have been actively trading US stocks myself.
Now, back to the main task of writing this post: to provide a detailed analysis of my true view on SNDK and practical trading advice.
In the second image, I drew the 4-hour level downtrend line for SanDisk.
The three white circles labeled 1, 2, and 3 are all 4-hour level resistance points.
First, look at the chart, then I'll explain the trading approach.
Because it is clear that SNDK is in a downtrend, shorting at resistance is following the trend.
Even after the main down wave completes and it starts to consolidate, shorting at the upper boundary of the consolidation is still following the trend. Try to avoid bottom fishing unless you clearly know where the bottom is.
The trading logic for many cryptocurrencies is similar. The main trend—whether down or up—is the starting point for thinking; otherwise, subsequent reasoning might be based on a misunderstanding, leading only to more mistakes.
Currently, SNDK's price is 1270. If you have already shorted, you can take partial profits around 1200 and then wait and see. Try to only short and avoid bottom fishing.
If you bottom fish incorrectly, you might end up with an endless bottom. $SNDK#闪迪存储业务高增长能否延续？
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