SanDisk technical analysis | Short-term (daily level)

Key price levels

• Strong resistance
First resistance: $1,360–$1,410, the first hurdle on the bounce;
Medium-term strong resistance: $1,560–$1,610 (prior consolidation area). Only if it holds there on increased volume can it be considered a return to the bullish channel.

• Support ladder
Short-term first support: $1,120–$1,140 (today’s opening + gap support);
Secondary support: $1,040;
Extreme critical support: $998, the recent low. If it breaks down effectively, the rebound structure of this round will be damaged, and it will revert to a downward tempo.

Current market read

Just after emerging from an oversold area, it bounced with a high-volume bullish engulfing candle. This is an oversold repair move; there is no confirmed reversal yet.
After the bullish candle, sideways consolidation and pullback are likely. It cannot be directly treated as the start of a new major up-move. We need to watch whether it can hold the $1,120 support next, and whether it can break above the $1,410 resistance on increased volume.

3. Two scenario projections

1. Bullish scenario: Pull back and hold the $1,120–$1,140 support, then stand above $1,410 on increased volume. Next, look toward $1,560–$1,610, provided that sector sentiment remains strong + earnings expectations stay positive.

2. Bearish scenario: The rebound lacks strength, meets resistance and falls back in the $1,360–$1,410 range. If it breaks below $1,120, it will test the $1,040 and $998 lows again. #美联储维持利率不变