$SNDK A faded star.
After SanDisk fell below 1000, there’s no support near the current price that makes me feel confident.
---Looking at the 0.618 : 1.618 extension of the AB=CD pattern, along with the rally’s starting point on the left, there’s a strong confluence of support.
The confluence is at 500. There’s some minor support above 500, but I don’t think catching a falling knife at those levels would let me sleep easy. The stop loss on this trade is under 20%.
Futures contracts are a different matter. Until there’s a clear structure or price reclaims 1000, there aren’t any good opportunities to go long. 0.0
After SanDisk fell below 1000, there’s no support near the current price that makes me feel confident.
---Looking at the 0.618 : 1.618 extension of the AB=CD pattern, along with the rally’s starting point on the left, there’s a strong confluence of support.
The confluence is at 500. There’s some minor support above 500, but I don’t think catching a falling knife at those levels would let me sleep easy. The stop loss on this trade is under 20%.
Futures contracts are a different matter. Until there’s a clear structure or price reclaims 1000, there aren’t any good opportunities to go long. 0.0
