SNDK (1D) — −9% intraday after first test of $1,600 ATH
By:TradingView
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SNDK
Sandisk Corporation opens Tuesday May 12 at $1,492 with a −3.6% gap down from yesterday's $1,547.56 close, breaks the prior range in a matter of hours down to the session low at $1,367 (−11.7% from close) and trades around $1,411 mid-session with an intraday decline of −8.8% and volume already at 11.7M shares (on pace to clear the 60-session average), first daily candle with distribution signature after touching last Friday May 8 the absolute all-time high at $1,600.00. Since the spin-off from Western Digital in August 2025 with the stock trading around $40, the name has multiplied by approximately forty in nine months, leaving one of the most vertical trend extensions in the US market this cycle. Today's candle is the first clear break of the 4H EMA9–EMA20 cluster and the first meaningful bearish body on the weekly scale since the impulse began. This note builds the full multi-timeframe picture on Weekly / Daily / 4H, adding the structural layers Liquidity Zones, SuperTrend and ZigZag with Fibonacci extensions to frame the read: the question is no longer whether the name is overbought — it is on every scale — but whether the correction opened today is healthy digestion inside trend or the first event challenging the vertical slope.
Weekly Analysis — the forming weekly candle opens at $1,586.25, marks the ATH at $1,600, breaks down to $1,367 with today's session and trades around $1,413 with a current range of $233, an upper wick of $13.75, a lower wick of $46 and a bearish body of $172.76: first meaningful weekly bearish body since the extension began and first wide lower wick after a historic top. The weekly EMA stack remains impeccable and fully expansive: EMA9 1,077.97 / EMA20 810.22 / EMA50 474.66, with the price–EMA9 distance still at +31% and positive slope across all three averages with no bearish crossovers on the horizon. Weekly MACD at 268.64 above Signal 192.25 with histogram +76.39 — primary momentum still expanding, no slope loss despite the pullback. Weekly TRIX Fast 10.34 above Slow 7.85 with histogram +2.49 — bullish cross fully alive, no near-term bearish cross threat. Weekly Multi Stochastic in maximum saturation and embedded: Stoch 50 = 95.92, Stoch 14 = 94.11, Stoch 5 = 91.34 — all three levels glued above 91 read as textbook trend strength, but the extreme embedded read on weekly remains the first structural signal that the name operates in historic tension zone. Weekly RSI 14 at 78.95 with the Bear Cross OB module triggered inside the indicator — first formal weekly overbought of the entire cycle. Weekly RSI 2 at 63.14, still high. Weekly Accumulation/Distribution at +572.86M — institutional flow accumulating sustainably with no visible distribution even under the top candle. Macro weekly read: primary trend intact and momentum still expanding, but for the first time the combination "wide bearish body candle + RSI 14 with Bear Cross OB + extreme embedded stochastics on weekly" appears — historically a precursor to multi-week pauses in vertical-slope names.
4H Analysis — intermediate close at $1,411 below the 4H EMA9 (1,435.76) and still above the 4H EMA20 (1,333.90), first sustained loss of the EMA9 since the start of the latest vertical leg. The 4H EMA stack remains fully aligned and expansive: EMA9 1,435.76 / EMA20 1,333.90 / EMA50 1,129.82 / EMA100 944.14 / EMA200 733.67 — the 1,333–1,435 cluster (4H EMA20–EMA9) is the operative reference for a first healthy pullback, and the 1,129 step (4H EMA50) defines depth if the name needs to digest accumulated overbought further. 4H MACD at 126.65 below Signal 128.37 with histogram −1.72 — bearish cross triggered for the first time on the intermediate horizon, first real momentum loss. 4H TRIX Fast 1.07 below Slow 1.83 with histogram −0.76 — bearish cross fully confirmed, intermediate friction broader than the first readings of yesterday. 4H Multi Stochastic with orderly internal decompression: Stoch 89 = 86.06, Stoch 50 = 83.51, Stoch 14 = 68.09, Stoch 5 = 39.46 — slows lose the extreme embedded read but hold above 83 while the fasts fully reset, classic wide-pause-inside-trend setup. 4H RSI 14 at 61.29, still above 50 without saturation. 4H RSI 2 at 18.22, fully cooled — short-term reset completed. 4H Accumulation/Distribution at +24.66M, no relevant visible distribution despite the vertical pullback. Intermediate read: first serious friction with MACD and TRIX in bearish cross and price below 4H EMA9, but slow stochastics still elevated, 4H EMA20 fully defended on close and A/D positive sustain that the read remains severe digestion, not structural reversal.
Liquidity Zones — the liquidity reader marks three structurally operative blocks on the daily horizon. The block closest to price sits between $1,330 and $1,395, coincident with the 4H EMA9–EMA20 cluster and the base of the last vertical extension, textbook reading of a buy-side liquidity zone where a quick wick has high probability of being absorbed with volume — today's intraday low at $1,367 has bitten into the upper part of this block. The intermediate block sits around $980–1,080, aligned with the weekly EMA9 cluster (1,077.97) and the daily EMA50 (947.72), high operative-density zone acting as intermediate structural support for any multi-week correction. The deep block holds in the $800–870 zone, coincident with the weekly EMA20 (810.22) and the prior structural ceiling before the final leg of the impulse, major structural support for extended digestion scenarios. The layer marks no buy-side liquidity block above current price: upside is pure technical air toward $1,600 and, on breakout, free Fibonacci extension. Key read: all relevant liquidity zones sit below price, sustaining the multi-month bullish asymmetry, but today's bite at $1,367 confirms that the $1,330–1,395 block is the first real test whose defense decides whether the digestion is a single session or extends toward the intermediate block.
SuperTrend — the SuperTrend line holds bullish state without a single color change across the entire leg since the spin-off, with the last bullish flip printed in the $40 zone in August 2025 and not a single bearish flip in nine months of impulse. The daily SuperTrend dynamic lower band currently sits around $1,250–1,290, a step coherent with the 4H EMA20 cluster and the upper Liquidity Zones block. Price has never closed in daily below the SuperTrend at any point during the x40 run, which turns every band test into a volume-backed reactivation zone rather than a corrective pivot. Today's drop down to $1,367 still leaves the SuperTrend at an operative distance of roughly $80–120 below price, without even being touched intraday. The SuperTrend reading independently confirms what EMAs and A/D already mark: primary trend fully intact, and the indicator signature demands a net daily close below the current band to open the first real doubt over impulse state. As long as daily close holds above $1,290 the SuperTrend reading remains "trend on" without ambiguity.
ZigZag and Fibonacci projection — the automatic ZigZag layer builds an impeccable higher-highs and higher-lows structure (HH/HL) across the entire run since the spin-off, with no relevant intermediate low break up to today. The latest impulse measured by the layer starts at the swing low of $866.95 and projects onto the recent high at $1,600.00 the canonical Fibonacci extensions: 1.618 in the $1,804 zone and 2.618 in the $2,087 zone as structural targets if the name reclaims the ATH on weekly close. The most recent relevant ZigZag intermediate low sits at $1,292.57, last week's low — today's session at $1,367 still respects this level and keeps alive the HH/HL chain of the latest leg, although by much tighter margins than yesterday. The major structure (HH/HL from $40 → $1,600) would remain intact as long as the $866 zone is not lost on weekly close, the structural higher-grade pivot. Final read: the ZigZag layer still draws an impeccable technical structure with Fibonacci targets reachable toward $1,804–2,087 on a multi-month horizon, conditional on defending $1,292 on weekly close and reclaiming $1,600 to activate the free extension.
Key levels
- Resistance 1: 1,600.00 — Friday's all-time high, weekly close breakout opens free extension toward Fibonacci 1.618
- Resistance 2: 1,547.56 — yesterday's close and reference lost in the gap, first level to reclaim to neutralize the bearish candle
- Resistance 3: 1,508.32 — yesterday's session high and today's intraday high, first short-term reactivation test
- Resistance 4: 1,435.76 — 4H EMA9 — lost in session, quick reclaim validates brief pause
- Structural target 1: 1,804 — Fibonacci 1.618 extension over the last impulse, first multi-month objective
- Structural target 2: 2,087 — Fibonacci 2.618 extension, extended target in vertical-continuation scenario
- Support 1: 1,367.00 — today's intraday low, first strength test of the upper Liquidity Zones block
- Support 2: 1,358.38 — Daily EMA9 — first healthy pullback inside trend, ideal volume-backed reactivation zone
- Support 3: 1,333.90 — 4H EMA20 — base of the 4H cluster, intermediate pullback still fully bullish
- Support 4: 1,292.57 — last week low and most recent relevant ZigZag HL — technical pivot whose loss on weekly close breaks the HH/HL chain of the final leg
- Support 5: 1,190.70 — Daily EMA20 — deeper pullback, buy-side liquidity block zone
- Support 6: 1,129.82 — 4H EMA50 — deeper pullback within the intermediate horizon
- Support 7: 1,077.97 — Weekly EMA9 — intermediate structural support, loss on weekly close opens multi-month corrective leg
- Support 8: 947.72 — Daily EMA50 — major structural support of the impulse
- Support 9: 810.22 — Weekly EMA20 — structural base of the vertical leg
- Partial invalidation: weekly close below 1,077.97 breaks impulse speed without invalidating the multi-month thesis
- Structural invalidation: weekly close below 474.66 (Weekly EMA50) would be the first event challenging the post-spinoff primary-trend narrative
Setup Rating — 6.0/10 (Bullish with first real intermediate friction and mandatory operative patience)
Positive factors
- Weekly, Daily and 4H EMA stack impeccable, no bearish crossovers on any scale
- Primary trend intact: approximately x40 from the August 2025 spin-off even after today's pullback
- Weekly MACD histogram still expanding — primary momentum has not lost slope
- Weekly TRIX in active bullish cross, no near-term bearish cross threat
- SuperTrend bullish without a single bearish flip in nine months and not even touched by today's low
- Accumulation/Distribution at highs across all three timeframes — sustained institutional flow with no distribution even on today's session
- ZigZag HH/HL structure impeccable since the spin-off, latest relevant HL at 1,292 still defended
- All operative Liquidity Zones sit below price — favorable asymmetry
- Slow stochastics embedded above 83 on Weekly and 4H — trend strength intact
- Today's intraday low at 1,367 bites the upper part of the 1,330–1,395 buy-side liquidity block — first test already consumed at the expected step
Cautions
- Weekly candle with wide bearish body after touching $1,600 ATH — first technical local-top signal on weekly scale
- Weekly RSI 14 at 78.95 with Bear Cross OB module triggered — first formal weekly overbought of the cycle
- Weekly stochastics with all three levels embedded above 91 — extreme saturation still without decompression
- 4H MACD bearish cross triggered for the first time in the cycle and 4H TRIX in confirmed bearish cross — real intermediate friction
- Price closes 4H bar below 4H EMA9 and very close to the 4H EMA20 — loss of the short-term intermediate dynamic
- Intraday decline of −8.8% from yesterday's close and −11.8% from ATH in a single session — magnitude of profit-taking elevated
- Approximately x40 in nine months without major intermediate pullback — accumulated elasticity demands digestion
Bullish scenario (moderate probability)
Defense of the 1,330–1,395 block on daily closes with rising volume and quick reclaim of the 1,435–1,508 cluster. Validation of 1,292 as the latest relevant ZigZag HL and breakout of 1,547 with institutional volume reactivate the primary impulse. Breakout of 1,600 on weekly close opens free extension toward Fibonacci target 1,804 (+27%) as first structural objective, with 2,087 (+46%) as extended target. Variant: sideways consolidation between 1,292 and 1,547 during 2–4 weeks while oscillators reset and weekly stochastics lose the extreme embedded read before continuation.
Healthy consolidation / digestion scenario (high probability)
Technical pullback to the 1,292–1,395 cluster (4H EMA20 + upper Liquidity Zones block + latest ZigZag HL) bought with volume and full reset of 4H and weekly stochastics. Weekly close defending 1,292 validates a second bullish leg toward 1,547–1,600 and subsequent extension. Deeper variant: correction to the 1,078–1,190 cluster (Weekly EMA9 + Daily EMA20 + intermediate Liquidity Zones block) with full weekly reset, scenario that would purge all overbought and upgrade setup rating to 8/10 without breaking the structural thesis.
Bearish scenario (healthy correction, not structural invalidation)
Loss of 1,292 on weekly close breaks the latest ZigZag HL and opens intermediate corrective leg toward the 947–1,078 zone (Daily EMA50 + Weekly EMA9 + intermediate Liquidity Zones block), a pullback on the order of −30% from highs fully coherent with the magnitude of the prior impulse. This correction would not break the multi-month structural thesis — the weekly stack would remain intact and A/D would not show distribution while price holds above Weekly EMA20 (810). Only a weekly close below 474 (Weekly EMA50) would be the first event forcing review of the post-spinoff primary-trend narrative.
Do we defend 1,292 and stay in trend, or do we need a reset to the 1,078–1,190 cluster before continuing? Drop your view below 👇
Sandisk Corporation opens Tuesday May 12 at $1,492 with a −3.6% gap down from yesterday's $1,547.56 close, breaks the prior range in a matter of hours down to the session low at $1,367 (−11.7% from close) and trades around $1,411 mid-session with an intraday decline of −8.8% and volume already at 11.7M shares (on pace to clear the 60-session average), first daily candle with distribution signature after touching last Friday May 8 the absolute all-time high at $1,600.00. Since the spin-off from Western Digital in August 2025 with the stock trading around $40, the name has multiplied by approximately forty in nine months, leaving one of the most vertical trend extensions in the US market this cycle. Today's candle is the first clear break of the 4H EMA9–EMA20 cluster and the first meaningful bearish body on the weekly scale since the impulse began. This note builds the full multi-timeframe picture on Weekly / Daily / 4H, adding the structural layers Liquidity Zones, SuperTrend and ZigZag with Fibonacci extensions to frame the read: the question is no longer whether the name is overbought — it is on every scale — but whether the correction opened today is healthy digestion inside trend or the first event challenging the vertical slope.
Weekly Analysis — the forming weekly candle opens at $1,586.25, marks the ATH at $1,600, breaks down to $1,367 with today's session and trades around $1,413 with a current range of $233, an upper wick of $13.75, a lower wick of $46 and a bearish body of $172.76: first meaningful weekly bearish body since the extension began and first wide lower wick after a historic top. The weekly EMA stack remains impeccable and fully expansive: EMA9 1,077.97 / EMA20 810.22 / EMA50 474.66, with the price–EMA9 distance still at +31% and positive slope across all three averages with no bearish crossovers on the horizon. Weekly MACD at 268.64 above Signal 192.25 with histogram +76.39 — primary momentum still expanding, no slope loss despite the pullback. Weekly TRIX Fast 10.34 above Slow 7.85 with histogram +2.49 — bullish cross fully alive, no near-term bearish cross threat. Weekly Multi Stochastic in maximum saturation and embedded: Stoch 50 = 95.92, Stoch 14 = 94.11, Stoch 5 = 91.34 — all three levels glued above 91 read as textbook trend strength, but the extreme embedded read on weekly remains the first structural signal that the name operates in historic tension zone. Weekly RSI 14 at 78.95 with the Bear Cross OB module triggered inside the indicator — first formal weekly overbought of the entire cycle. Weekly RSI 2 at 63.14, still high. Weekly Accumulation/Distribution at +572.86M — institutional flow accumulating sustainably with no visible distribution even under the top candle. Macro weekly read: primary trend intact and momentum still expanding, but for the first time the combination "wide bearish body candle + RSI 14 with Bear Cross OB + extreme embedded stochastics on weekly" appears — historically a precursor to multi-week pauses in vertical-slope names.
4H Analysis — intermediate close at $1,411 below the 4H EMA9 (1,435.76) and still above the 4H EMA20 (1,333.90), first sustained loss of the EMA9 since the start of the latest vertical leg. The 4H EMA stack remains fully aligned and expansive: EMA9 1,435.76 / EMA20 1,333.90 / EMA50 1,129.82 / EMA100 944.14 / EMA200 733.67 — the 1,333–1,435 cluster (4H EMA20–EMA9) is the operative reference for a first healthy pullback, and the 1,129 step (4H EMA50) defines depth if the name needs to digest accumulated overbought further. 4H MACD at 126.65 below Signal 128.37 with histogram −1.72 — bearish cross triggered for the first time on the intermediate horizon, first real momentum loss. 4H TRIX Fast 1.07 below Slow 1.83 with histogram −0.76 — bearish cross fully confirmed, intermediate friction broader than the first readings of yesterday. 4H Multi Stochastic with orderly internal decompression: Stoch 89 = 86.06, Stoch 50 = 83.51, Stoch 14 = 68.09, Stoch 5 = 39.46 — slows lose the extreme embedded read but hold above 83 while the fasts fully reset, classic wide-pause-inside-trend setup. 4H RSI 14 at 61.29, still above 50 without saturation. 4H RSI 2 at 18.22, fully cooled — short-term reset completed. 4H Accumulation/Distribution at +24.66M, no relevant visible distribution despite the vertical pullback. Intermediate read: first serious friction with MACD and TRIX in bearish cross and price below 4H EMA9, but slow stochastics still elevated, 4H EMA20 fully defended on close and A/D positive sustain that the read remains severe digestion, not structural reversal.
Liquidity Zones — the liquidity reader marks three structurally operative blocks on the daily horizon. The block closest to price sits between $1,330 and $1,395, coincident with the 4H EMA9–EMA20 cluster and the base of the last vertical extension, textbook reading of a buy-side liquidity zone where a quick wick has high probability of being absorbed with volume — today's intraday low at $1,367 has bitten into the upper part of this block. The intermediate block sits around $980–1,080, aligned with the weekly EMA9 cluster (1,077.97) and the daily EMA50 (947.72), high operative-density zone acting as intermediate structural support for any multi-week correction. The deep block holds in the $800–870 zone, coincident with the weekly EMA20 (810.22) and the prior structural ceiling before the final leg of the impulse, major structural support for extended digestion scenarios. The layer marks no buy-side liquidity block above current price: upside is pure technical air toward $1,600 and, on breakout, free Fibonacci extension. Key read: all relevant liquidity zones sit below price, sustaining the multi-month bullish asymmetry, but today's bite at $1,367 confirms that the $1,330–1,395 block is the first real test whose defense decides whether the digestion is a single session or extends toward the intermediate block.
SuperTrend — the SuperTrend line holds bullish state without a single color change across the entire leg since the spin-off, with the last bullish flip printed in the $40 zone in August 2025 and not a single bearish flip in nine months of impulse. The daily SuperTrend dynamic lower band currently sits around $1,250–1,290, a step coherent with the 4H EMA20 cluster and the upper Liquidity Zones block. Price has never closed in daily below the SuperTrend at any point during the x40 run, which turns every band test into a volume-backed reactivation zone rather than a corrective pivot. Today's drop down to $1,367 still leaves the SuperTrend at an operative distance of roughly $80–120 below price, without even being touched intraday. The SuperTrend reading independently confirms what EMAs and A/D already mark: primary trend fully intact, and the indicator signature demands a net daily close below the current band to open the first real doubt over impulse state. As long as daily close holds above $1,290 the SuperTrend reading remains "trend on" without ambiguity.
ZigZag and Fibonacci projection — the automatic ZigZag layer builds an impeccable higher-highs and higher-lows structure (HH/HL) across the entire run since the spin-off, with no relevant intermediate low break up to today. The latest impulse measured by the layer starts at the swing low of $866.95 and projects onto the recent high at $1,600.00 the canonical Fibonacci extensions: 1.618 in the $1,804 zone and 2.618 in the $2,087 zone as structural targets if the name reclaims the ATH on weekly close. The most recent relevant ZigZag intermediate low sits at $1,292.57, last week's low — today's session at $1,367 still respects this level and keeps alive the HH/HL chain of the latest leg, although by much tighter margins than yesterday. The major structure (HH/HL from $40 → $1,600) would remain intact as long as the $866 zone is not lost on weekly close, the structural higher-grade pivot. Final read: the ZigZag layer still draws an impeccable technical structure with Fibonacci targets reachable toward $1,804–2,087 on a multi-month horizon, conditional on defending $1,292 on weekly close and reclaiming $1,600 to activate the free extension.
Key levels
- Resistance 1: 1,600.00 — Friday's all-time high, weekly close breakout opens free extension toward Fibonacci 1.618
- Resistance 2: 1,547.56 — yesterday's close and reference lost in the gap, first level to reclaim to neutralize the bearish candle
- Resistance 3: 1,508.32 — yesterday's session high and today's intraday high, first short-term reactivation test
- Resistance 4: 1,435.76 — 4H EMA9 — lost in session, quick reclaim validates brief pause
- Structural target 1: 1,804 — Fibonacci 1.618 extension over the last impulse, first multi-month objective
- Structural target 2: 2,087 — Fibonacci 2.618 extension, extended target in vertical-continuation scenario
- Support 1: 1,367.00 — today's intraday low, first strength test of the upper Liquidity Zones block
- Support 2: 1,358.38 — Daily EMA9 — first healthy pullback inside trend, ideal volume-backed reactivation zone
- Support 3: 1,333.90 — 4H EMA20 — base of the 4H cluster, intermediate pullback still fully bullish
- Support 4: 1,292.57 — last week low and most recent relevant ZigZag HL — technical pivot whose loss on weekly close breaks the HH/HL chain of the final leg
- Support 5: 1,190.70 — Daily EMA20 — deeper pullback, buy-side liquidity block zone
- Support 6: 1,129.82 — 4H EMA50 — deeper pullback within the intermediate horizon
- Support 7: 1,077.97 — Weekly EMA9 — intermediate structural support, loss on weekly close opens multi-month corrective leg
- Support 8: 947.72 — Daily EMA50 — major structural support of the impulse
- Support 9: 810.22 — Weekly EMA20 — structural base of the vertical leg
- Partial invalidation: weekly close below 1,077.97 breaks impulse speed without invalidating the multi-month thesis
- Structural invalidation: weekly close below 474.66 (Weekly EMA50) would be the first event challenging the post-spinoff primary-trend narrative
Setup Rating — 6.0/10 (Bullish with first real intermediate friction and mandatory operative patience)
Positive factors
- Weekly, Daily and 4H EMA stack impeccable, no bearish crossovers on any scale
- Primary trend intact: approximately x40 from the August 2025 spin-off even after today's pullback
- Weekly MACD histogram still expanding — primary momentum has not lost slope
- Weekly TRIX in active bullish cross, no near-term bearish cross threat
- SuperTrend bullish without a single bearish flip in nine months and not even touched by today's low
- Accumulation/Distribution at highs across all three timeframes — sustained institutional flow with no distribution even on today's session
- ZigZag HH/HL structure impeccable since the spin-off, latest relevant HL at 1,292 still defended
- All operative Liquidity Zones sit below price — favorable asymmetry
- Slow stochastics embedded above 83 on Weekly and 4H — trend strength intact
- Today's intraday low at 1,367 bites the upper part of the 1,330–1,395 buy-side liquidity block — first test already consumed at the expected step
Cautions
- Weekly candle with wide bearish body after touching $1,600 ATH — first technical local-top signal on weekly scale
- Weekly RSI 14 at 78.95 with Bear Cross OB module triggered — first formal weekly overbought of the cycle
- Weekly stochastics with all three levels embedded above 91 — extreme saturation still without decompression
- 4H MACD bearish cross triggered for the first time in the cycle and 4H TRIX in confirmed bearish cross — real intermediate friction
- Price closes 4H bar below 4H EMA9 and very close to the 4H EMA20 — loss of the short-term intermediate dynamic
- Intraday decline of −8.8% from yesterday's close and −11.8% from ATH in a single session — magnitude of profit-taking elevated
- Approximately x40 in nine months without major intermediate pullback — accumulated elasticity demands digestion
Bullish scenario (moderate probability)
Defense of the 1,330–1,395 block on daily closes with rising volume and quick reclaim of the 1,435–1,508 cluster. Validation of 1,292 as the latest relevant ZigZag HL and breakout of 1,547 with institutional volume reactivate the primary impulse. Breakout of 1,600 on weekly close opens free extension toward Fibonacci target 1,804 (+27%) as first structural objective, with 2,087 (+46%) as extended target. Variant: sideways consolidation between 1,292 and 1,547 during 2–4 weeks while oscillators reset and weekly stochastics lose the extreme embedded read before continuation.
Healthy consolidation / digestion scenario (high probability)
Technical pullback to the 1,292–1,395 cluster (4H EMA20 + upper Liquidity Zones block + latest ZigZag HL) bought with volume and full reset of 4H and weekly stochastics. Weekly close defending 1,292 validates a second bullish leg toward 1,547–1,600 and subsequent extension. Deeper variant: correction to the 1,078–1,190 cluster (Weekly EMA9 + Daily EMA20 + intermediate Liquidity Zones block) with full weekly reset, scenario that would purge all overbought and upgrade setup rating to 8/10 without breaking the structural thesis.
Bearish scenario (healthy correction, not structural invalidation)
Loss of 1,292 on weekly close breaks the latest ZigZag HL and opens intermediate corrective leg toward the 947–1,078 zone (Daily EMA50 + Weekly EMA9 + intermediate Liquidity Zones block), a pullback on the order of −30% from highs fully coherent with the magnitude of the prior impulse. This correction would not break the multi-month structural thesis — the weekly stack would remain intact and A/D would not show distribution while price holds above Weekly EMA20 (810). Only a weekly close below 474 (Weekly EMA50) would be the first event forcing review of the post-spinoff primary-trend narrative.
Do we defend 1,292 and stay in trend, or do we need a reset to the 1,078–1,190 cluster before continuing? Drop your view below 👇
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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