SanDisk Corporation designs, develops, manufactures, and markets data
storage solutions in the United States and internationally. The company
offers removable cards, which are used in various applications and
consumer devices, including digital cameras, camcorders, smartphones,
tablets, and eReaders under the SanDisk Ultra, SanDisk Extreme, and
SanDisk Extreme PRO brands; and embedded products that are used in
mobile phones, tablets, notebooks, and other portable and wearable
devices, as well as in automotive and connected home applications under
the brand name iNAND. It also provides solid state drives (SSDs) for
client computing applications, which include desktop computers, notebook
computers, tablets, and other computing devices; and enterprise SSD
solutions, as well as universal serial bus flash drives for use in the
computing and consumer markets.
Take a look at the 1-year chart of SanDisk (NASDAQ: SNDK) below with my added notations:
SNDK has been trending lower for the past 9 months. Over that time,
the stock has formed an important trend line of resistance (red). Any
(2) points can start a trend line, but it’s the 3rd test and beyond that
confirm its importance. SNDK obviously has an important trendline of
resistance, which currently sits right around $55. A break above that
line should mean higher prices, overall, for the stock.
The Tale of the Tape: SNDK is currently stuck under a
down trending resistance. A break above that resistance should mean
higher prices for the stock, thus a long trade could be made. Short
traders might look to enter a trade at the resistance.
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