$SNDK
đšđșđČ Investors are bottling it and turning dead cautious ahead of the Q3 earnings drop on October 29th
The firm smashed a record gross profit margin of 84.6% last quarter, with two-thirds of its revenue growth coming from bumping up prices rather than shifting more units
Now, we're starting to see signs of a slowdown in NAND prices, sparking worries that these stonking margins might just be a cyclical peak rather than sustainable
The fear of a classic "sell the event" moveâeven if the numbers come in decentâhas got investors trimming their positions following that massive 500% YTD surge
â$SNDK
âTrend: Dead bearish, sitting below all moving averages
âEntry: Short on a bounce up to 1,460â1,480, or on a break below 1,427
âTargets: 1,400 \rightarrow 1,370 \rightarrow 1,340
âStop-Loss: Just above 1,510
âAny proper bounce above 1,500 will need heavy volume behind it to be taken seriously
Keep a very close eye on that 1,427 level
$SNDK
#SNDK #USMarketUpdate
đšđșđČ Investors are bottling it and turning dead cautious ahead of the Q3 earnings drop on October 29th
The firm smashed a record gross profit margin of 84.6% last quarter, with two-thirds of its revenue growth coming from bumping up prices rather than shifting more units
Now, we're starting to see signs of a slowdown in NAND prices, sparking worries that these stonking margins might just be a cyclical peak rather than sustainable
The fear of a classic "sell the event" moveâeven if the numbers come in decentâhas got investors trimming their positions following that massive 500% YTD surge
â$SNDK
âTrend: Dead bearish, sitting below all moving averages
âEntry: Short on a bounce up to 1,460â1,480, or on a break below 1,427
âTargets: 1,400 \rightarrow 1,370 \rightarrow 1,340
âStop-Loss: Just above 1,510
âAny proper bounce above 1,500 will need heavy volume behind it to be taken seriously
Keep a very close eye on that 1,427 level
$SNDK
#SNDK #USMarketUpdate