$DRAM broke above my initial $55 confirmation
Just need to break and hold the 50dma and we are away
$KOSPI is still playing nice which is helpful +2% today
Rest of memory also performing $SNDK +16% $MU +6% $WDC +8% $STX +5%
Bull case we break above and have a very intense rally until September/October
Bear case we reject off the 50dma from war news or some AI/memory "killer"
I am favouring the bull case right now, it is good to see they are implementing restriction on Korean's trading leverage!
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Took a position on $DRAM yesterday at $50
Memory sentiment is horrible atm and I think it will turn very quickly
I want to see a confident move tomorrow, pre market is up 2.3%
It will be difficult to reclaim the 50dma without getting rejected hard
The $KOSPI is looking primed for a move up but whether that will be just to reject off the 50dma, I'm not sure
Target still remains $130 for the $DRAM
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