SanDisk 1556, this trend drop is a bit unusual right now.
The high point fell from 1818 on September 8 all the way down to 1580, and the low point dropped from 1776 to 1507. Both the upper and lower bounds are moving down together—it's a standard downward channel.
But in the most recent twelve candlesticks, seven of them are bearish. And each body is smaller than the last. The bodies on the 13th are only about 2 to 6 points—basically sliding sideways downward.
This isn’t a dumping sell-off; it’s a slow, persistent decline (bearish grind). No one is rushing to sell, but no one is willing to buy either.
That said, yesterday afternoon’s candle is worth watching. The low dipped to 1507 and closed at 1535. The lower wick is 27 points—the longest lower wick over the past two days. When it dipped, someone came in to take it.
Then the following candle turned bullish and rose to 1580.
So the 1507 level has temporary support for now.
At this point, I’m not catching the falling knife. A weekly drop of 12% is significant, and this bearish grind hasn’t finished yet. If it rebounds back to 1580, it gets pushed back down—showing there’s a pretty thick layer of trapped sellers overhead.
If it breaks below the 1507 low, we’ll look again—only if it holds can we talk about a rebound. #SNDK $SNDKB
The high point fell from 1818 on September 8 all the way down to 1580, and the low point dropped from 1776 to 1507. Both the upper and lower bounds are moving down together—it's a standard downward channel.
But in the most recent twelve candlesticks, seven of them are bearish. And each body is smaller than the last. The bodies on the 13th are only about 2 to 6 points—basically sliding sideways downward.
This isn’t a dumping sell-off; it’s a slow, persistent decline (bearish grind). No one is rushing to sell, but no one is willing to buy either.
That said, yesterday afternoon’s candle is worth watching. The low dipped to 1507 and closed at 1535. The lower wick is 27 points—the longest lower wick over the past two days. When it dipped, someone came in to take it.
Then the following candle turned bullish and rose to 1580.
So the 1507 level has temporary support for now.
At this point, I’m not catching the falling knife. A weekly drop of 12% is significant, and this bearish grind hasn’t finished yet. If it rebounds back to 1580, it gets pushed back down—showing there’s a pretty thick layer of trapped sellers overhead.
If it breaks below the 1507 low, we’ll look again—only if it holds can we talk about a rebound. #SNDK $SNDKB
