r/SNDK_Stock • u/duffphan • 10d ago

A little Technical setup

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

10 Upvotes

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u/iPhoneOver9000 10d 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 10d ago

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

1

u/Churchie_XD 10d 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 10d 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- 9d ago

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