๐ป SanDisk (SNDK) down 3.68% today, another casualty in the semiconductor bloodbath. Flash storage demand isn't going away, but the stock keeps grinding lower.
๐ Technical Snapshot:
Price: $1,212.21 (-3.68%)
RSI: 41.6 โ leaning bearish
Trend: Strong downtrend
Volume: 115% of average โ selling is picking up
SMA5 ($1,307) = overhead resistance now
3-month: Down from $2,335 high (-48%)
๐ง Why SNDK Keeps Falling:
Flash memory pricing is under pressure. NAND supply has caught up with demand, and the industry is entering a down-cycle phase. Add broader market uncertainty and you get persistent selling.
The concerning part: volume is ABOVE average on a down day. That's institutional distribution โ big money is reducing exposure.
๐ Key Levels:
Support: $1,015 (3-month low โ the line in the sand)
Resistance: $1,280 (recent breakdown level)
โ ๏ธ If $1,015 breaks, there's not much support until $800.
Approach: Stay on the sidelines. This needs a base-building period before it becomes tradeable again. Flash memory cycles bottom eventually, but we're not there yet.
Storage plays: still holding or already cut? Let me know ๐
#SanDisk #Flash #StockMarket
โ ๏ธ Disclaimer: Personal analysis, not financial advice. Always conduct your own research before investing.