SanDisk up 2.1% today but still down 47% from its 3-month high. One green candle doesn't make a trend — but it's worth watching.
SNDK is in a strong downtrend with RSI at 42.6 and price well below SMA20 ($1,371) and SMA50 ($1,680). Today's bounce is happening on normal volume — not convincing enough to call a reversal.
📊 Technical Snapshot
• Price: $1,237.92 (+2.1%)
• Trend: Strong downtrend (despite today's bounce)
• RSI: 42.6 (bearish lean)
• Volume: Normal — no conviction behind the bounce
• From 3-month high: -47%
🎯 Key Levels
• Support: $1,278 → $1,016 (3-month low)
• Resistance: $1,297 (SMA5) → $1,371 (SMA20)
• Confirmation of reversal: Close above $1,371 with volume
💡 Memory Sector Context
The entire memory/storage sector is under pressure — MU, SK Hynix, SNDK all showing similar patterns. This could be sector-wide capitulation (bullish long-term) or the beginning of a deeper cycle downturn.
Are you brave enough to bottom-fish in the memory sector? 👇
#SanDisk #Storage #DYOR
⚠️ Not financial advice. Always do your own research and manage risk carefully.
SNDK is in a strong downtrend with RSI at 42.6 and price well below SMA20 ($1,371) and SMA50 ($1,680). Today's bounce is happening on normal volume — not convincing enough to call a reversal.
📊 Technical Snapshot
• Price: $1,237.92 (+2.1%)
• Trend: Strong downtrend (despite today's bounce)
• RSI: 42.6 (bearish lean)
• Volume: Normal — no conviction behind the bounce
• From 3-month high: -47%
🎯 Key Levels
• Support: $1,278 → $1,016 (3-month low)
• Resistance: $1,297 (SMA5) → $1,371 (SMA20)
• Confirmation of reversal: Close above $1,371 with volume
💡 Memory Sector Context
The entire memory/storage sector is under pressure — MU, SK Hynix, SNDK all showing similar patterns. This could be sector-wide capitulation (bullish long-term) or the beginning of a deeper cycle downturn.
Are you brave enough to bottom-fish in the memory sector? 👇
#SanDisk #Storage #DYOR
⚠️ Not financial advice. Always do your own research and manage risk carefully.