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Second Pancake Thoughts
Second Pancake's current pennant formation has been broken downward. The original lower support of the pennant at 2127 is now resistance.
This wave of decline has temporarily halted; to continue the rebound, we must break through the pennant suppression to have a chance at 2202.
If we cannot stabilize above 2105, there is a high probability of retesting the 2046 low point. Once the previous low breaks, the downside space will be opened up.
Long Strategy
• After volume breakout above 2106, pullback entry for long positions, stop loss on breakdown
• Pullback to 2046 support and consolidation can add long, stop loss exit below 2005
• Left-side pending orders: Enter long at 1988, stop loss below 1946
Short Strategy
• After volume breakdown below 2085, enter short on the rebound with stop loss
• Can layout short positions at upper 2176, stop loss if breakthrough 2206
Key Levels
• Resistance: 2106、2142、2176
• Support: 2097、2067、2036
• 4-hour level: If breaks below 2080, look at 2033、1990 below
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