000660 Sell analysis
- Confidence
- 75
- Entry
- 2,416,000
- Target
- 2,045,000
- Stop
- 2,700,000
- Published
- 2026-07-03
Summary
SK Hynix shows signs of a major trend reversal following a parabolic move, with heavy-volume selling at the peak and a lower high structure developing.
Trend
The medium-term parabolic uptrend has been broken. The price recently peaked near 3,000,000 KRW and suffered a sharp pullback, followed by a weak bounce, indicating exhaustion among buyers.
Patterns
A potential Double Top or Head and Shoulders-like distribution pattern is forming near the highs, confirmed by increasing bearish volume during the downward legs.
Indicators
The recent rebound attempts are meeting strong resistance with volume decreasing on the up-days compared to the massive distribution volume seen during the sell-offs.
Strategy
Initiate a short position or exit existing longs on rallies near the current resistance. Place a stop loss above the recent swing high to protect capital.
For reference only, not investment advice. Trading decisions are your own.