$SNDK This sharp drop—is it an opportunity or a trap?
SanDisk has been sliding all the way down from today's high of 1505, bottoming out at 1278 before recovering to around 1383. It dropped nearly $50, but hasn't collapsed.
The storage sector had been falling for a while. Micron, SK Hynix, and Western Digital were all down, and SanDisk got dragged down too.
But today's long lower wick is interesting.
It was knocked down to 1359 and then bounced back, which suggests buyers stepped in at that level. Once the panic selling is over, short-term selling pressure should ease.
My advice for now is to stay away. Wait until the trend becomes clearer and there's a clear direction before making a move. As for the short term, it's still likely to keep falling!
#闪迪投资者日后股价大涨
SanDisk has been sliding all the way down from today's high of 1505, bottoming out at 1278 before recovering to around 1383. It dropped nearly $50, but hasn't collapsed.
The storage sector had been falling for a while. Micron, SK Hynix, and Western Digital were all down, and SanDisk got dragged down too.
But today's long lower wick is interesting.
It was knocked down to 1359 and then bounced back, which suggests buyers stepped in at that level. Once the panic selling is over, short-term selling pressure should ease.
My advice for now is to stay away. Wait until the trend becomes clearer and there's a clear direction before making a move. As for the short term, it's still likely to keep falling!
#闪迪投资者日后股价大涨