They Laid Me Off, Now the Stock Might Lay Down Tooimgur.com
After a sharp move from $63 to $128, SNEX has shown no meaningful pullback. The recent high near $128 marks the exhaustion of a multi-month impulse wave, with the stock now trading around $117.33.
Why the Short Makes Sense:
Overextended Rally:
The move from $63 to $128 occurred with no significant base-building or retracement.
Lack of Support Until $90:
Reviewing the chart structure, there's minimal historical support between $105 and $90, leaving the stock exposed if it begins to unwind.
AB=CD Completion + Fibonacci Confluence:
The current leg lower mirrors the earlier rally (AB = CD), with a measured target landing near $90.
50% Fibonacci retracement of the entire move also lands around $95.50 — a logical price magnet.
Trade Structure:
A 105/95 vertical put spread, priced at $145, offers strong convexity if SNEX falls into that open range.
This is a high-probability setup for a technical correction of ~23% from current levels, with clean structure, defined risk, and wide open space below.
