đž SanDisk ($SNDK) -5.1% On SURGING Volume â Capitulation Or More Pain?
When a stock drops 5% on surging volume, it means one of two things: either sellers are exhausting themselves (capitulation), or the floor is about to drop out. $SNDK at $1,215 is in that uncomfortable zone.
đ Technical Snapshot:
⢠Price: $1,214.83 | Downtrend
⢠RSI: 40.8 â bearish but approaching oversold
⢠MACD: -161.3 (negative momentum)
⢠Volume: SURGING â could signal capitulation
⢠Support: $1,280 (BROKEN) | Resistance: $2,050
đŻ What To Watch:
⢠RSI approaching 40 â watch for 30 as buy signal
⢠Surging volume on decline = possible climax selling
⢠Price well below previous support â bearish
⢠Storage sector under broad pressure
The entire memory/storage sector is in pain. Correlated selling across MU, SK Hynix, and SNDK suggests macro headwinds rather than company-specific issues.
Sector-wide sale or structural decline? What do you think? đ¤
#SanDisk #Storage #DYOR
â ď¸ Not financial advice. Always do your own research and manage risk carefully.
When a stock drops 5% on surging volume, it means one of two things: either sellers are exhausting themselves (capitulation), or the floor is about to drop out. $SNDK at $1,215 is in that uncomfortable zone.
đ Technical Snapshot:
⢠Price: $1,214.83 | Downtrend
⢠RSI: 40.8 â bearish but approaching oversold
⢠MACD: -161.3 (negative momentum)
⢠Volume: SURGING â could signal capitulation
⢠Support: $1,280 (BROKEN) | Resistance: $2,050
đŻ What To Watch:
⢠RSI approaching 40 â watch for 30 as buy signal
⢠Surging volume on decline = possible climax selling
⢠Price well below previous support â bearish
⢠Storage sector under broad pressure
The entire memory/storage sector is in pain. Correlated selling across MU, SK Hynix, and SNDK suggests macro headwinds rather than company-specific issues.
Sector-wide sale or structural decline? What do you think? đ¤
#SanDisk #Storage #DYOR
â ď¸ Not financial advice. Always do your own research and manage risk carefully.