#SNDK SNDK / Sandisk - 4-Hour Chart - Detailed Support / Resistance Analysis
$SNDK Price 1,739.88 up 11.88%. Intraday High 1,740.00 Low 1,582.00 MA5: 1622.83 MA10:1582.27 MA30:1567.92 MACD is positive.
1. GENERAL STRUCTURE
The chart is a large V-reversal. It dropped 57% from the 2,353.12 peak on 06/24 to the 998.19 bottom. Now it is making a correction of that drop. The TD Sequential indicator shows clear green 9s and red 9s. The last green 9 came around 08/14 and the rally started after that 9. The current green candle closed at 1,739.88 very close to the daily high, which means very strong buyers.
MA alignment has turned bullish: MA5 > MA10 > MA30. So in the short term, the trend is with the buyers.
2. RESISTANCE ZONES
A) Immediate Resistance: 1,740.00 - 1,813.65
Current price is right at the intraday High of 1,740.00. On the right side of the chart, the 1,813.65 level is marked. This is the previous small top, the peak thrown by the green 9 on 08/14. This is the first profit-taking zone. If it closes above 1,740 on a 4-hour basis, the next target will be 1,813.65. After-Hours is 1,734.00 -0.33% showing a slight pullback, so resistance was met at 1,740.
B) Major Resistance: 2,255.26 - 2,353.12
This is the real decisive zone. The June peak marked as 2,353.12 on the chart. This is a big double-top / distribution zone. Price fell from there to 998. Now going back there means 30% more upside but strong selling pressure is expected. The 2,255 level is also the neckline of that peak.
3. SUPPORT ZONES - This is Much More Important
1. First Support: 1,622.83 (MA5)
The fastest support. Where it should hold on the first correction in 4h. Since it has a 10% intraday Range (Range %10.16), a pullback to here is very normal.
2. Strong Support Cluster: 1,582.27 - 1,567.92
This is the most critical support.
• MA10: 1,582.27 • Intraday Low: 1,582.00 • MA30: 1,567.92 • Prev Close: 1,555.05
They are all clustered in the same area. This 1,555 - 1,582 range is now the main support. If it breaks below this zone, most of the intraday gain will be erased and it will be a fake breakout.
3. Intermediate Support: 1,372.05
The 1,372.05 level marked on the right side of the chart. It was the upper band of the previous consolidation. Where the MAs intersect.
4. Absolute Bottom Support: 998.19 - 930.44
The bottom marked as 998.19 on the chart. This is the bottom of the big drop. This is the absolute support. Returning to here again means the trend is completely broken. There is also a lower level marked as 930.44 on the chart.
4. INDICATOR CONFIRMATION
TD Sequential 9: There are 4 nines on the chart. Red 9s came at the bottom and caught the reversal very well. Especially the red 9 at the 998 bottom and the drop after the green 9 on 08/14 and the current green candle show that TD is working correctly. There is no new 9 right now.
MACD(12,26,9): MACD 18.84 DIF 39.32 DEA 20.48 - DIF has crossed DEA upwards and histogram has turned green. This shows bullish momentum has just started on the 4-hour. Since it is above the zero line, the trend is strong.
5. SCENARIOS
For continuation of the rise: Persistence above 1,740 is required. If 1,740 breaks, target is 1,813.65. If that also breaks, 2,000 psychological resistance.
For correction: If 1,622 (MA5) breaks, a correction of up to 9% to the 1,582-1,567 cluster is normal. If there is a 4-hour close below 1,555 (Prev Close), there is a gap down to 1,372. That means a 21% correction.
SNDK is a stock and its volatility is very high with 10.16%. Since Weekend Trading is open, volume may be low, there is a gap risk at the weekday opening.
Not financial advice.
