TradingKey – SK Hynix (SKHY) is trading volatile memory chip stock this month after strong second-quarter results caused a 9.6% selloff. Stock prices rebounded and surged almost 30% until hitting a key resistance level at $168.56. There is a lot of conflict surrounding the memory market itself. Bears believe that a peak in cyclical production has occurred. Bulls argue in favor of a new kind of demand for memory on account of large longer-term investments in AI, and nonsurprisingly in conventional memory cycles.

With 257% year-over-year revenue growth, an operating margin of 76% and the start of mass shipments for HBM4, each of these markers gives merit to the bull case. Stock behavior will ultimately be decided by breaking the $168.56…