Open buy · week 4 · Nasdaq
Sandisk slips 3.3%: a second straight weekly decline on contracting volume
Our view last week
Sandisk was firmly rejected in the 1900 area, at the 7-day high, and closes the week down 0.8%: the break that was pending last week has yet to come. In the weekly price action sellers move ahead and volume contracts, while money flow turns positive after 5 weeks below zero. For Sandisk stock, the buy signal that fired 3 weeks ago stays open, up 2.2% since entry, one of the memory stocks to watch.
This week's summary
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%.
IQS Phase
56
ordinary
Signal Strength
86
high · wide & volatile
Sizing
FULL
Ranking
#22 / 93
US stocks in progress
Trade P&L %
-1.15%
from signal to date, no stop loss
Sandisk (SNDK) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 22nd among the 93 Longs already running for US stocks in our ranking, with a signal strength of 86 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly +1.80% · monthly +8.83%
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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