๐พ Storage stocks are getting crushed โ SanDisk (SNDK) down 3.7% today and 48% from its 3-month high. The NAND cycle is clearly in a downswing, but how deep does the rabbit hole go?
๐ Technical Snapshot:
โข Price: $1,212.21 (-3.68%)
โข Trend: Strong downtrend โ all SMAs declining and above price
โข RSI: 41.6 โ bearish momentum, not yet oversold
โข Volume: 13.9M shares, 1.15x average โ selling pressure persistent
โข SMA5 ($1,307) now acting as resistance
๐ Key Logic:
The memory sector moves in cycles, and we're clearly in the downswing. NAND pricing has been softening as supply catches up with demand. SanDisk, as a pure storage play, is the most exposed to this cycle.
However, being 48% off highs with RSI approaching 40 is where contrarian buyers start to get interested. The key is waiting for a stabilization signal โ higher low, volume climax, or RSI divergence.
๐ Key Levels:
โข Support: $1,016 (3-month low)
โข Resistance: $1,280 (SMA5) โ $1,393 (SMA20)
๐ญ Memory cycle bottom: are we close, or is this just the beginning? Share your thesis ๐ง
#SanDisk #StorageStocks #DYOR
โ ๏ธ Disclaimer: This is personal analysis, not financial advice. Cyclical stocks carry elevated risk. Always do your own research.
๐ Technical Snapshot:
โข Price: $1,212.21 (-3.68%)
โข Trend: Strong downtrend โ all SMAs declining and above price
โข RSI: 41.6 โ bearish momentum, not yet oversold
โข Volume: 13.9M shares, 1.15x average โ selling pressure persistent
โข SMA5 ($1,307) now acting as resistance
๐ Key Logic:
The memory sector moves in cycles, and we're clearly in the downswing. NAND pricing has been softening as supply catches up with demand. SanDisk, as a pure storage play, is the most exposed to this cycle.
However, being 48% off highs with RSI approaching 40 is where contrarian buyers start to get interested. The key is waiting for a stabilization signal โ higher low, volume climax, or RSI divergence.
๐ Key Levels:
โข Support: $1,016 (3-month low)
โข Resistance: $1,280 (SMA5) โ $1,393 (SMA20)
๐ญ Memory cycle bottom: are we close, or is this just the beginning? Share your thesis ๐ง
#SanDisk #StorageStocks #DYOR
โ ๏ธ Disclaimer: This is personal analysis, not financial advice. Cyclical stocks carry elevated risk. Always do your own research.