8.31 Daily $SNDK Market Analysis: 1550, 1580 — Short entries are clear as day. Is there a new change in this week’s market?
Last week, the instructor said the best choice for Sandisk was to go short, and he provided short levels at 1550, 1580, and even 1605. The result? At least the first two spots, 1550 and 1580, have both dropped by over 100 points… If that’s still considered nitpicking, then that’s just looking for trouble!
Today’s market action still depends on whether 1430 can break down. If it can’t and price rebounds here, then you need to pay attention to when the trendline on the hourly chart will be broken. If price can rise to around 1480, then it’s worth considering buying on pullback. Once the trendline successfully breaks, 1550 and 1580 become potential take-profit levels.
If 1430—a repeatedly supported level—breaks down, then 1375 and 1325 could both rebound. The earlier 1375 is more aggressive, while 1325 is the more conservative option. The aggressive trade carries a higher risk of getting trapped; let’s see how Sandisk behaves if it continues falling and tries to annoy traders.
Last week, the instructor said the best choice for Sandisk was to go short, and he provided short levels at 1550, 1580, and even 1605. The result? At least the first two spots, 1550 and 1580, have both dropped by over 100 points… If that’s still considered nitpicking, then that’s just looking for trouble!
Today’s market action still depends on whether 1430 can break down. If it can’t and price rebounds here, then you need to pay attention to when the trendline on the hourly chart will be broken. If price can rise to around 1480, then it’s worth considering buying on pullback. Once the trendline successfully breaks, 1550 and 1580 become potential take-profit levels.
If 1430—a repeatedly supported level—breaks down, then 1375 and 1325 could both rebound. The earlier 1375 is more aggressive, while 1325 is the more conservative option. The aggressive trade carries a higher risk of getting trapped; let’s see how Sandisk behaves if it continues falling and tries to annoy traders.
