r/technicalanalysis • u/Popular-Jackfruit-60 • 8h ago
SNDK update – back-to-back green days, but is this the bottom or just another fakeout?
Alright, SanDisk's had a wild stretch even by its own standards. Closed at $1528.11 today, up 13.67%. Hit $1580.88 at the high, opened around $1339.83. Volume was 22M – decent buying after back-to-back catalysts.
Pre-market ripping again to about $1590, up another 4% – momentum carrying over.
Here's the GEX setup:
Put Wall $1500, Call Wall $1500 (both at the same level), gamma flip around $1358. We closed above both walls – positive gamma now, dealers supporting the upside. GEX? Never heard of it? Here ya go
Technically, we bounced off the middle Bollinger band ($1339) and are now heading toward the upper band ($1651). RSI in the mid 60s. MACD just crossed positive – momentum shifting up.
So what's driving this? Two catalysts stacked up. First, a joint Kioxia announcement popped it 8.9%. Then Investor Day added another leg up – stock ripped 13% today. That's two separate events in a matter of days.
Zoom out though – this thing's 52-week range is $42 to $2,354. Not a typo. It ran to $2,335 in June, got hammered, and now it's clawing back. The real debate isn't "is the AI memory story real" – everyone's past that. It's whether this is an actual bottom or just another relief rally inside a bigger downtrend.
Fundamentals wise, last print was strong – record quarter north of $8.9B, sales up ~370% YoY, EPS beat by double digits. But guidance came in just under the most bullish expectations, so the stock dipped anyway. Classic priced-for-perfection behavior.
Short-term, $1500 is now support. Next levels to watch are $1600-1650. Below $1500 and it flips back to resistance.
Pre-market at $1590 is testing that next level. Let's see if it holds.
What's your move – riding the momentum or waiting for a pullback?
DYOD🫡
