SK Hynix’s shares slipped below the 200-day simple moving average on Friday, capping a rebound attempt that failed to sustain gains above ₩1,800,000 and leaving the stock at ₩1,741,000 as of the latest session. The Seoul-traded equity, listed under ticker 000660, had closed at ₩1,730,000 on August 21, up ₩39,000 or 2.31%, but has since retreated amid thin follow-through.
Technical analysis points to a pivotal test at the 200-period moving average, currently situated around ₩1,861,438, a level that has capped advances since mid-July. Price action on a five-hour chart shows the stock sitting above the Ichimoku cloud but failing to clear the major resistance zone, with the Average True Range at ₩82,948, or 4.75% of spot value.
A completed V-bottom pattern and a bullish engulfing candle on August 19 initially signaled a potential upside breakout, reinforced by a rising MACD. However, the bounce stalled within the ₩1,700,000–₩1,800,000 no-trade zone, leaving traders to assess whether the move was a bull trap. The 38.2% Fibonacci retracement level at ₩1,911,298 remains a key upside hurdle.
Scenario playbooks outlined by analysts suggest divergent paths depending on the next decisive break. An aggressive bearish stance targets a test of the ₩1,610,500–₩1,657,400 support cluster, with downside objectives at ₩1,523,000 and ₩1,247,000 if the 200-day average fails to hold. Entry at ₩1,861,000 carries a stop at ₩1,985,000 and risk-reward ratios ranging from 2.0 to 4.9.
Conversely, a pullback-buy strategy for bulls eyes an entry near ₩1,657,000, with targets at ₩1,861,000, ₩1,911,000, and ₩2,116,000, and a stop below ₩1,523,000. A conservative bullish approach waits for a close above the 200-day average near ₩1,870,000 before committing, while a conservative bearish view looks for a breakdown below the Ichimoku cloud around ₩1,700,000 for confirmation.
The stock’s recent consolidation follows a broader tech-sector pullback in Asian trading, with market participants monitoring whether SK Hynix can reclaim momentum or succumb to renewed selling pressure.
