๐พ SanDisk (
$SNDK ) down -3.68% today as the storage sector gets hammered.
Down 48% from 3-month highs. Is this peak pessimism โ or just the beginning?
๐ Technical Snapshot
Price: $1,212.21 (-3.68%) | RSI: 41.6 (approaching oversold)
Volume: 13.9M (1.15x average โ slightly elevated)
Trend: Strong downtrend
SNDK is down 48% from its 3-month high ($2,335) but still 19% above its low ($1,016). The stock is in the lower half of its range, and sellers are still in control.
๐ก What the Chart Tells Me
1. RSI at 41.6 โ not quite oversold (30), but getting there
2. Price below all major MAs except the 10-day
3. Volume is slightly elevated on the sell-off โ not panic yet
4. MACD is deeply negative but histogram is narrowing
The storage sector is getting hit by tariff concerns and inventory correction fears. But the long-term story (data growth, AI storage needs) hasn't changed.
๐ Key Levels
โ Support: $1,280 (recent) โ $1,016 (3-month low)
โ Resistance: $1,393 (20-day MA) โ $1,688 (50-day MA)
๐ The Plan
โ Entry: $1,210-1,280 (near current levels, with bullish divergence on RSI)
โ Stop Loss: $1,015 (break below 3-month low)
โ TP1: $1,393 (20-day MA)
โ TP2: $1,688 (50-day MA)
โ๏ธ Risk/Reward: 1.7:1 โ attractive IF you believe in the sector recovery
Bottom line: SNDK is beaten up enough to be interesting, but not yet showing a clear bottom. Wait for RSI divergence or a volume spike before entering.
Is the storage sector due for a bounce? ๐
#SanDisk #Storage #Trading
โ ๏ธ This is not financial advice. DYOR. Past performance is not indicative of future results.