$SNDK gapped up before the market opened. Can it hold the key support level?
SanDisk plunged after OpenAI's revenue figures came in below market expectations. Although it recovered during overnight trading, the situation is still dangerous.
Looking at the candlestick chart in Figure 1, the key question is whether it can hold 1640. If it fails to hold 1640, it could fall back to 1600 or even below 1580. This would still pose a challenge for SanDisk, especially since it's Friday and most traders are likely to focus on protecting their positions.
Also, 1660 and 1680 are resistance levels for SanDisk. Fortunately, liquidation data shows that most long positions had already been liquidated yesterday. Short positions now far outnumber long positions, and market sentiment is broadly bearish. Major players may push the price down first after the open, then drive it back up, since most long positions have already been liquidated.
You could go long on SanDisk near 1620 and see whether it can break through the 1660 resistance level. For a more conservative approach, consider taking profit near 1660. If momentum is weak, it's advisable to take profit near 40 instead—don't get too greedy. More aggressive traders could hold until 1680. #NEARIntents用户付费超2900万美元
SanDisk plunged after OpenAI's revenue figures came in below market expectations. Although it recovered during overnight trading, the situation is still dangerous.
Looking at the candlestick chart in Figure 1, the key question is whether it can hold 1640. If it fails to hold 1640, it could fall back to 1600 or even below 1580. This would still pose a challenge for SanDisk, especially since it's Friday and most traders are likely to focus on protecting their positions.
Also, 1660 and 1680 are resistance levels for SanDisk. Fortunately, liquidation data shows that most long positions had already been liquidated yesterday. Short positions now far outnumber long positions, and market sentiment is broadly bearish. Major players may push the price down first after the open, then drive it back up, since most long positions have already been liquidated.
You could go long on SanDisk near 1620 and see whether it can break through the 1660 resistance level. For a more conservative approach, consider taking profit near 1660. If momentum is weak, it's advisable to take profit near 40 instead—don't get too greedy. More aggressive traders could hold until 1680. #NEARIntents用户付费超2900万美元