While some are starting to anticipate a recovery on $SNX , the current chart structure suggests the downside move may not be complete yet.
$SNX – SHORT:
Trade Plan:
Entry: 0.28878 – 0.29047
Stop Loss: 0.29470
Take Profit Targets:
TP1: 0.28456
TP2: 0.28287
TP3: 0.27948
Why this setup?
The 4-hour chart is shaping a short opportunity, aligning with a broader bearish trend on the daily timeframe. Price has pushed back into the 0.28878–0.29047 resistance zone, currently hovering near 0.28963, where sellers may look to regain control.
On the lower timeframe, the 15-minute RSI sits around 57, reflecting neutral momentum — leaving room for a potential move lower. At the same time, volume is showing a notable increase, with activity running at 4.00x the average (400.32K traded vs. 100.07K expected per 15 minutes), indicating that the selling pressure is supported by real participation rather than weak liquidity.
