SK Hynix tests KRW 1.455 million support amid bearish trend

SK Hynix’s stock tested a key technical support level on Tuesday, with shares retracing toward KRW 1.455 million as part of a broader bearish trend. The move aligns with Fibonacci retracement analysis, which has identified the KRW 1.455 million mark as a critical pivot point for the South Korean semiconductor manufacturer.

The KRW 1.455 million level, previously established as a resistance point during prior trading sessions, is now being tested as support amid sustained selling pressure. Technical indicators suggest the downside momentum remains intact, with the stock failing to sustain gains above earlier peaks. Traders are closely monitoring whether the support holds or if a break below could accelerate declines.

SK Hynix, a major supplier of DRAM and NAND flash memory, has faced headwinds from softening demand in key end markets, including smartphones and PCs. The company’s earnings outlook remains a focal point for investors, with recent guidance revisions contributing to the stock’s underperformance relative to broader semiconductor benchmarks.

For now, the KRW 1.455 million level stands as the immediate battleground for directional clarity. A decisive break either way could set the tone for near-term trading, with broader sector trends likely to influence the outcome.