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SK Hynix Stock Analysis: Key Support Levels After AI Memory Selloff

SK Hynix shares have fallen about 45% from their record high, currently trading near the 50% retracement level of their 52-week range. The recent rejection of a wage deal by production workers adds uncertainty, but analysts remain bullish with a consensus buy rating and average target price of 3.16 million KRW. Key support lies at 1.557 million KRW (August 25 low) and 1.62 million KRW (50% retracement), with resistance at 1.671 million KRW and the 1.943-2.0 million KRW zone.

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AI take

The 45% drawdown from the record high, paired with a rejected wage deal, shifts focus from AI demand narratives to operational and labor stability. The stock's position near the 50% retracement suggests a technical battleground where institutional consensus — reflected in the buy rating — meets real-world friction. What matters next is whether the support zone holds amid production uncertainty, as a break would test the August low's significance. The gap between current price and the average target underscores the market's skepticism about near-term earnings visibility, making labor resolution a key catalyst to monitor.

Generated by AI for reference only.

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