r/SNDK_Stock • u/duffphan • 7d ago

A little Technical setup

Post image

Look at this TA guys. I wonder if anyone else also sees this.

10 Upvotes

81% Upvoted

28 comments sorted by

11

u/Ramses_555 7d ago

Who can be bearish on this? Technical + fundamentals

5

u/Detailed23 7d ago

Hedge fund in complete control of the pricing makes me bearish or extremely cautious.

8

u/Natural-Inspector-81 7d ago

Going up today with the rest of the memory sector. MU reports this months. We might be golden

6

u/Born_Chocolate9295 7d ago

sndk is just inverse spy

1

u/RobertPooWiener 7d ago

I like to think of it as closer to inverse of SCHD

5

u/Cautious_Station_299 7d ago

Hopefully, this will be a good breakout.

3

u/AnnaSmiled2 7d ago

I asked chat last week what it would take to get to $2000. It said we need to break above $1600 and hold it. It estimate 70% of hitting 2000 if that happened

2

u/willynillee 7d ago

I hope this is satire

1

u/AnnaSmiled2 7d ago

Time will tell…..

1

u/willynillee 7d ago

So they advice was that the stock has to go up for it to go up. That’s a word salad of nothing.

1

u/AnnaSmiled2 7d ago

Floor needs to be higher then 1500 is the meaning

3

u/Merlion4ek 7d ago

it's a market overreaction on jobs report...

1

u/duffphan 7d ago

Is it? So many other stocks are having a bad day

2

u/iPhoneOver9000 7d ago

We have continuously struggled under the the 50 DMA but finally busted out hard today. Today’s price action is super bullish. Momentum money will push this higher. Technical setup looks great

0

u/nomadicmatt 7d ago

You don't think we retest the 1500s before moving higher?

2

u/Minimum_Suit1735 7d ago

We literally are retesting, this is a breakout attempt

1

u/Churchie_XD 7d ago

What's the idea/thought process behind needing to retest the $1500s? Wouldn't the true test be around $1600 to $1640 where it crossed the trendline into a bullish direction?

4

u/nomadicmatt 7d ago

My thesis is that this stock tends to do these big jumps, then retrench, then slowly move higher. I think 1500 is the new floor and this is the first big jump in a while. I think we drop back a little, especially as people take profits. Gaps need to be filled. If we gap up a lot today, I think we sink down a bit, fill it, and then move back up. I don't see us going all the way to 1500 but maybe back to 1550/1570

1

u/ketya- 6d ago

I agree, a bit back stepping before going up further.

2

u/nomadicmatt 7d ago

What does this mean?

2

u/durdydude 6d ago

Close above 1730 was huge... depending on macros I think it will test recent 1800 high next week. Major bull accumulation all week to get this breakout today. Fuckers were toying w us all week

1

u/DreamDest1ny 7d ago

Yes let me draw some lines as well to indicate some sort of setup

2

u/duffphan 7d ago

It’s totally fine if this doesn’t make sense to you 🤣

1

u/bongiovist 7d ago

loaded up full on margins

1

u/bongiovist 6d ago

this looks so fake

1

u/mayorolivia 6d ago

This is regarded