SK Hynix bear flag 80% done, tests Fibonacci support: Live levels

SK Hynix's 5-hour chart displays a bearish sign, with the price hovering roughly 5% under its 20-period average. A bear flag pattern is 80% finished. The market's fate depends on whether the KRW 1,426,922 Fibonacci support level sustains or breaks. Despite brief optimism, the technical scene is predominantly bearish. The stock stays below the Ichimoku Cloud (KRW 1,573,500–1,821,500), further indicating an ongoing downward trend.

The ADX (26.81) confirms a robust bearish trend, with selling pressure surpassing buying pressure (NDI 38.41, PDI 22.75). Price closures are close to 5% below the 20-period Simple Moving Average, suggesting that every rally attempt seems like a brief dead-cat bounce rather than a genuine recovery. A bear flag, usually a continuation signal in downtrends, is now 80% developed.

The key battleground is the 61.8% Fibonacci retracement (KRW 1,426,922), serving as the decisive line for both bulls and bears. Succumbing to this level would expose the recent lowest point at KRW 1,247,000, while resistance near the SMA(20) and the cloud's base (KRW 1,522,000–1,573,000) adds pressure to any potential bounce-back.

This situation isn't suitable for those seeking quick gains; the odds right now lean towards sellers, but a squeeze could reverse the trend if volume spikes above resistance. Patience around the Fibonacci level and using strict stop-losses are advised.