SanDisk’s daily chart has turned green, and money is flowing in $SNDK #SNDK $SNDKB
SanDisk is in a recovery phase following a steep decline. The share price fell from $1,712.89 in late September, reaching a low of $803.97 over the period—a cumulative drop of 51.25%. The latest daily candle (November 6) rebounded 3.55% to close at $835.06, marking a technical bounce after a sharp sell-off.
For short-term support, watch $816.42 (the intraday low on November 6), followed by $803.97 (the lowest price across the past 30 daily candles). The first level of resistance is $912.09 (the intraday high on November 6). The share price remains 33.22% below its 20-day moving average ($1,250.37). The rebound has yet to recover any medium-term moving average, reflecting a weak recovery after a steep decline.
Market news analysis:
Downward pressures continue to dominate the medium-term trend. First, with the stock split approaching, the market has seen a period of selling pressure ahead of its implementation.
The latest earnings report was broadly strong, but it still failed to reverse the sector’s risk-off sentiment. Third, concerns that the memory market may have peaked continue to mount. The question “Have we hit bottom?” reflects investors’ caution about future demand and pricing trends.
In terms of investor sentiment, the steep decline pushed fear close to a recent high. However, the high-volume rebound and unusual trading activity on November 6 suggest that some investors have begun cautiously buying into the dip.
SanDisk is in a recovery phase following a steep decline. The share price fell from $1,712.89 in late September, reaching a low of $803.97 over the period—a cumulative drop of 51.25%. The latest daily candle (November 6) rebounded 3.55% to close at $835.06, marking a technical bounce after a sharp sell-off.
For short-term support, watch $816.42 (the intraday low on November 6), followed by $803.97 (the lowest price across the past 30 daily candles). The first level of resistance is $912.09 (the intraday high on November 6). The share price remains 33.22% below its 20-day moving average ($1,250.37). The rebound has yet to recover any medium-term moving average, reflecting a weak recovery after a steep decline.
Market news analysis:
Downward pressures continue to dominate the medium-term trend. First, with the stock split approaching, the market has seen a period of selling pressure ahead of its implementation.
The latest earnings report was broadly strong, but it still failed to reverse the sector’s risk-off sentiment. Third, concerns that the memory market may have peaked continue to mount. The question “Have we hit bottom?” reflects investors’ caution about future demand and pricing trends.
In terms of investor sentiment, the steep decline pushed fear close to a recent high. However, the high-volume rebound and unusual trading activity on November 6 suggest that some investors have begun cautiously buying into the dip.