SK Hynix Tests ₩1,777,000 Support: Live Levels, RSI and Key Resistance
SK Hynix shares are back at a critical technical area around ₩1,777,000 as selling pressure pushes the stock below several short-term moving averages. The latest completed session cited by Investing.com showed SK Hynix at ₩1,768,000, down 5.05%, leaving the stock just beneath the widely watched ₩1.777 million support zone.
That makes the current setup important for short-term traders and investors following the global AI-memory trade. The stock remains supported by exceptionally strong fundamentals, including record quarterly earnings and sustained high-bandwidth memory (HBM) demand, but the technical picture has weakened considerably after the latest decline.
The key question now is whether ₩1,777,000 can be reclaimed and defended, or whether the break below it develops into a deeper correction.
Why ₩1,777,000 Matters
The ₩1,777,000 area is important because it sits close to recent price action and the lower end of the stock's September trading range. Historical data shows SK Hynix touched ₩1,777,000 intraday on September 8, while the shares have repeatedly traded around the ₩1.77 million area during recent sessions.
But there is an important distinction today: the latest completed session closed at ₩1,768,000, below ₩1,777,000.
That means the level is no longer simply being tested from above. It has already been breached on a closing basis in the latest available session. For technical traders, the next question is whether the stock can quickly recover above ₩1,777,000 or whether the former support starts behaving like resistance.
That failed-reclaim scenario would keep the short-term chart under pressure.
The Immediate Support Zone Is Lower
Investing.com's latest pivot calculations provide several nearby downside reference points.
The Fibonacci pivot levels show support around ₩1,772,445 and ₩1,766,333, while the classic pivot system puts support at approximately ₩1,773,666, ₩1,766,333 and ₩1,757,666.
These levels create a support cluster rather than one exact price.
A useful way to read the chart is:
First support: around ₩1,777,000
Secondary support: ₩1,772,000–₩1,766,000
Lower support: around ₩1,758,000
Major longer-term reference: around ₩1,731,000
The last level is especially important because the 200-period simple moving average was around ₩1,731,345, and the 200-period exponential moving average was around ₩1,766,252 in the latest technical snapshot. Unlike the shorter moving averages, both 200-period averages were still generating positive signals.
That creates a mixed picture: short-term momentum has deteriorated, while the longer-term trend has not completely broken down.
Resistance Is Building Above the Stock
Any rebound now has several technical hurdles to overcome.
The first resistance levels from the latest pivot calculation sit around ₩1,789,666, ₩1,798,333 and ₩1,805,666.
Above those levels, the moving-average structure becomes more difficult.
The five-period SMA was around ₩1,776,700, the 10-period SMA around ₩1,802,650, the 20-period SMA around ₩1,835,575, and the 50-period SMA around ₩1,813,030. The 100-period SMA was near ₩1,798,765. Most of these averages were above the latest price, indicating substantial overhead supply.
In practical terms, a recovery through the ₩1.79–₩1.81 million region would be an early improvement, but a stronger technical repair would require the stock to move back above the ₩1.813–₩1.836 million zone.
Momentum Has Turned Weak
The momentum indicators reinforce the cautious short-term setup.
The latest technical snapshot showed RSI(14) at 34.26, below the neutral 50 level and approaching the conventional oversold threshold of 30. The MACD reading was negative, while the CCI and rate-of-change indicators were also pointing to weaker momentum.
There is a subtle but important point here.
An RSI around 34 indicates that selling pressure has become significant, but it is not yet the same as a confirmed reversal signal. A market can remain weak for an extended period while RSI stays below 50.
At the same time, the StochRSI was at 0, and the Ultimate Oscillator was around 25.96, both pointing toward oversold conditions.
That combination can increase the probability of short-term volatility. Oversold readings can precede a rebound, but they can also appear during a continuing decline.
The Chart Is Caught Between Short-Term Weakness and Long-Term AI Strength
This is where the SK Hynix story becomes more interesting for investors.
Fundamentally, the company is coming off an extraordinary quarter.
SK Hynix reported second-quarter 2026 revenue of ₩79.32 trillion and operating profit of ₩60.54 trillion, with operating profit up 557% year over year. The company said sustained AI infrastructure investment was driving demand for high-value products including HBM, AI-server DRAM and enterprise SSDs.
The company also said cumulative first-half revenue exceeded ₩100 trillion for the first time, while HBM4 mass shipments began in the second quarter and production would be expanded in the second half of the year. SK Hynix had also secured long-term agreements with around 10 customers and was continuing discussions with major clients.
Those fundamentals provide a very different backdrop from the weak short-term chart.
AI Memory Demand Remains the Major Structural Driver
SK Hynix remains deeply exposed to the AI data-centre buildout through HBM, the high-speed memory technology used alongside advanced AI processors.
The company said HBM4 had achieved customer-required operating speeds as well as strong power efficiency and cost competitiveness. It is also preparing for HBM4E after shipping samples to major customers earlier in 2026.
The broader industry is still expanding HBM capacity. Samsung said on September 29 that HBM could account for nearly 30% of global DRAM wafer capacity next year, compared with about 20% currently, reflecting the rising memory requirements of AI computing.
That is a significant long-term tailwind for the memory industry, although increasing supply can eventually affect pricing and margins.
Why the Stock Can Fall Even With Strong Fundamentals
SK Hynix illustrates an important stock-market principle: excellent business performance does not prevent short-term share-price corrections.
Investors may already have priced in a large amount of future AI-memory growth. The stock is also sensitive to movements in Samsung Electronics, Micron and broader semiconductor valuations.
The global macro environment is currently less supportive for high-growth technology shares. Reuters reported that the US 10-year Treasury yield had climbed to about 5.27%, a 19-year high, while rising oil prices were adding to inflation concerns and expectations for further Federal Reserve tightening.
Higher long-term yields can reduce the valuation investors are willing to assign to companies whose earnings are expected to grow significantly in the future.
That does not directly change SK Hynix's HBM demand, but it can change the market's valuation of that growth.
SK Hynix Live Levels: Bullish and Bearish Scenarios
From the current technical structure, the important levels are relatively clear.
A reclaim of ₩1,777,000 would be the first sign that buyers are trying to repair the recent breakdown. A move through ₩1,789,000–₩1,805,000 would strengthen that recovery, while clearing the ₩1.813–₩1.836 million area would represent a more meaningful improvement because of the concentration of moving-average resistance.
On the downside, failure to recover ₩1,777,000 would leave ₩1,772,000–₩1,766,000 as the next support area. A sustained move below that cluster could bring ₩1,758,000 into focus, followed by the longer-term 200-period average near ₩1,731,000.
These are technical reference levels, not guaranteed price targets.
What Investors Should Watch Next
The most useful signal over the next few sessions may be how SK Hynix behaves around ₩1.77 million rather than the size of one day's move.
Investors should watch whether the stock:
Reclaims and holds ₩1,777,000
Moves back above the ₩1.79–₩1.81 million resistance cluster
Sees RSI recover from the mid-30s toward 50
Shows improving MACD momentum
Holds the ₩1.73 million region if selling accelerates
Continues to receive strong demand for HBM4 and next-generation AI memory
Fundamentally, SK Hynix's ability to convert AI demand into sustainable pricing, margins and free cash flow will remain more important over time than any individual technical level.
The company itself has emphasised capacity expansion alongside capital-expenditure discipline, reflecting the need to balance strong customer demand with the cyclical nature of the memory industry.
Bottom Line
SK Hynix is sitting at an important technical crossroads after the latest close at ₩1,768,000, below the ₩1,777,000 support reference. The short-term chart is weak, with RSI around 34, negative MACD and most short- and medium-term moving averages above the current price.
At the same time, the underlying business remains supported by exceptional AI-memory demand. SK Hynix delivered record second-quarter results, began mass shipments of HBM4 and is expanding production to meet long-term customer demand.
For the near term, ₩1,777,000 is the key reclaim level, while ₩1.766 million, ₩1.758 million and roughly ₩1.731 million are important lower references. On the upside, ₩1.79–₩1.81 million and then ₩1.813–₩1.836 million are the main resistance zones to watch.
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This article is for informational and educational purposes only and should not be considered investment advice.