$SNDK I remain bearish; it could very likely fall into the 12xx range. Be cautious about going long 🔥🔥
SanDisk's problem isn't just a technical breakdown; it's also the highly cyclical nature of the memory industry. As long as NAND prices, inventory, and capital expenditures haven't bottomed out, it's hard for the stock to truly stabilize.
I don't think the current macro environment supports a rebound in memory stocks. It would be good if the price could hold above 1,300. With expectations of further rate hikes rising and the market worried about AI, I think this time is completely different from July. It feels like memory stocks have already had their last dance. Right now, they look extremely weak to me.
It's already falling in premarket trading, which shows that panic is running very high. I think even 1,275 will probably fail to hold #EthereumDropsBelow$2400
SanDisk's problem isn't just a technical breakdown; it's also the highly cyclical nature of the memory industry. As long as NAND prices, inventory, and capital expenditures haven't bottomed out, it's hard for the stock to truly stabilize.
I don't think the current macro environment supports a rebound in memory stocks. It would be good if the price could hold above 1,300. With expectations of further rate hikes rising and the market worried about AI, I think this time is completely different from July. It feels like memory stocks have already had their last dance. Right now, they look extremely weak to me.
It's already falling in premarket trading, which shows that panic is running very high. I think even 1,275 will probably fail to hold #EthereumDropsBelow$2400