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BlockBeats News, July 3rd - Trader 3X Long Labubu stated that during today's Asia session, Storage Stock Ironman and SK Hynix tested the 50-day Exponential Moving Average (EMA) and experienced a strong rebound. Taking into account the 30-minute pivot point signal, the trader decided to re-enter positions for these two storage stocks, setting the 50-day EMA as the stop-loss level. The trader also decided to selectively add to the positions and hopes that Micron and SanDisk can replicate a similar price trend next Monday.
The trader believes that the South Korean KOSPI Index, as a leading indicator of the semiconductor cycle, should be closely monitored, especially the 50-day moving average.
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