$SNDK Earnings beat expectations, yet the stock plunged. A short-term correction, or a shakeout before another rally?
SanDisk has really taken a beating in this downturn. To everyone who bought the dip at the top, how are you holding up? SanDisk’s earnings report was actually quite good overall, but the share price kept falling.
The main reason is that the stock had risen too much beforehand, and the market had already priced in the good news. On top of that, some investors took profits after the earnings report, creating significant selling pressure from profit-takers!
Looking at the current chart, the stock has fallen from $1,421 to $1,117, a drop of more than 21%. The MACD is now showing signs of recovery, suggesting that bearish momentum has eased somewhat, but a trend reversal has yet to be confirmed.
With the weekend approaching, institutions and large investors are stepping aside to watch. Keep a close eye on support around $1,117. If the price holds there, a rebound could follow. Resistance is around $1,180–$1,200.
The current price is in a low-level accumulation zone, so you could open a small long position. SanDisk should continue to benefit from long-term demand for AI storage. You could start building a small long position at the current price while keeping some room to add later. Specific trading plan👇👇👇
$AIN $IDOL #疑似朝鲜攻击占加密黑客损失近89% #ASIC尚未收到预测市场申请
SanDisk has really taken a beating in this downturn. To everyone who bought the dip at the top, how are you holding up? SanDisk’s earnings report was actually quite good overall, but the share price kept falling.
The main reason is that the stock had risen too much beforehand, and the market had already priced in the good news. On top of that, some investors took profits after the earnings report, creating significant selling pressure from profit-takers!
Looking at the current chart, the stock has fallen from $1,421 to $1,117, a drop of more than 21%. The MACD is now showing signs of recovery, suggesting that bearish momentum has eased somewhat, but a trend reversal has yet to be confirmed.
With the weekend approaching, institutions and large investors are stepping aside to watch. Keep a close eye on support around $1,117. If the price holds there, a rebound could follow. Resistance is around $1,180–$1,200.
The current price is in a low-level accumulation zone, so you could open a small long position. SanDisk should continue to benefit from long-term demand for AI storage. You could start building a small long position at the current price while keeping some room to add later. Specific trading plan👇👇👇
$AIN $IDOL #疑似朝鲜攻击占加密黑客损失近89% #ASIC尚未收到预测市场申请
