Open buy · week 5
Sandisk drops 8% on 4 straight lower highs, with the 20-week average now close
Our view last week
Sandisk drops 3.3% for a second straight weekly decline, on contracting volume: the upside break keeps failing to arrive, and the 7-day high, in the 1815 area, still sits above price. In the weekly price action the candle is indecisive, and money flow stays positive. For Sandisk stock, one of the memory stocks on our list of weekly buy signals, the buy signal is still open, at -1.15%.
This week's summary
Sandisk drops 8% and stretches its losing run to 3 weeks: the daily chart now shows 4 lower highs, from the 1910 area to the 1730 area, on contracting volume. A week ago the upside break was missing; now the price action carries the stock close to its 20-week average, in the 1543 area, approached without being touched. Sandisk stock stays among the US stocks on our list of weekly buy signals, open at -9.1% with money flow still positive: technical analysis of a delicate week.
IQS Phase
36
ordinary
Signal Strength
87
high · wide & volatile
Sizing
FULL
Ranking
#20 / 92
US stocks in progress
Trade P&L %
-9.09%
from signal to date, no stop loss
Sandisk (SNDK) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 20th among the 92 Longs already running for US stocks in our ranking, with a signal strength of 87 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly -0.52% · monthly +5.81%
SNDK belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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