Sandisk: fresh Sell signal, lower lows underway
Sandisk sheds 29.3%, opening a fresh Sell signal with lower lows underway
Sandisk: fresh Sell signal, lower lows underway
Our view last week
Sandisk shares close the week up 9.8%, with buyers back in control of volume at 92%, after last week's 16.5% slide. The bounce comes off a clean double bottom in the 1500 area. In this week's technical picture, though, money flow and momentum have been fading for a month even as price climbs: an early sign of fatigue beneath the surface. The trade is now in its 45th week, sitting well above 3,500% in profit.
This week's summary
A week ago Sandisk's long trade, in its 45th week and up more than 3,500%, was already flashing quiet fatigue. This week the reversal landed: Sandisk shares plunge 29.3%, with a double bottom in the 1480 area sparking a 32% bounce. In our weekly technical analysis a fresh Sell signal has triggered, 18th among the 140 US sell signals: the decline is starting out making lower lows, on a highly volatile stock.
IQS Phase
56
ordinary
Signal Strength
99
decline starting to make lower lows
Sizing
STANDARD
Ranking
#18 / 140
New us stocks
Trade P&L %
+0.00%
from signal to today
restricted Platinum content