đ˝ SanDisk (SNDK) at $1,238, up 2.12% today â a green day in a sea of red for semiconductors. But don't let one good day fool you: this stock is 47% below its 3-month high.
Technical snapshot:
⢠RSI at 42.6 â still in bearish territory
⢠Price below SMA20 ($1,371) and SMA50 ($1,680) â massive overhead resistance
⢠MACD histogram negative at -24.76
⢠Volume at 1.11x average â slightly above normal, which is encouraging
⢠Trend: strong downtrend, but today is constructive
Key levels:
⢠Support: $1,278 (current price is below support â watch for reclaim)
⢠Resistance: $2,050 (distant)
⢠3-month low: $1,016 (21.9% below current)
SanDisk lives and dies with flash memory pricing. Today's bounce could be short-covering or early accumulation â the volume increase supports the latter thesis, but one day isn't a trend.
What I need to see: 3 consecutive days above $1,278 support-turned-resistance with increasing volume. That would signal a potential trend change. Until then, this is just noise in a downtrend.
Is flash memory demand recovering or still declining? Share your view đ
#SanDisk #FlashMemory #StockMarket #DYOR
â ď¸ This is not financial advice. Always do your own research and manage risk carefully.
Technical snapshot:
⢠RSI at 42.6 â still in bearish territory
⢠Price below SMA20 ($1,371) and SMA50 ($1,680) â massive overhead resistance
⢠MACD histogram negative at -24.76
⢠Volume at 1.11x average â slightly above normal, which is encouraging
⢠Trend: strong downtrend, but today is constructive
Key levels:
⢠Support: $1,278 (current price is below support â watch for reclaim)
⢠Resistance: $2,050 (distant)
⢠3-month low: $1,016 (21.9% below current)
SanDisk lives and dies with flash memory pricing. Today's bounce could be short-covering or early accumulation â the volume increase supports the latter thesis, but one day isn't a trend.
What I need to see: 3 consecutive days above $1,278 support-turned-resistance with increasing volume. That would signal a potential trend change. Until then, this is just noise in a downtrend.
Is flash memory demand recovering or still declining? Share your view đ
#SanDisk #FlashMemory #StockMarket #DYOR
â ď¸ This is not financial advice. Always do your own research and manage risk carefully.