$SNDK Soaring premarket—has the rebound really arrived? Don’t rush to go long
The premarket picture looks broadly positive today, with tech stocks rising across the board and crude oil falling again. It looks like a recovery and rebound, but Sister Xing recommends caution!
SanDisk plunged last Friday and has now recovered from around 1117, finding support at 1150. It looks like it has stabilized and is rebounding, but Sister Xing thinks this looks more like a bull trap. Unless it can hold above 1150 and break through 1240 tonight, SanDisk still has plenty of room to fall.
Sister Xing is watching a few signals: whether the premarket gains in AI giants can hold, and whether SanDisk can break through 1200 on the one-hour chart. If it breaks through 1200, 1240 won’t be far away. If it struggles to break through, it may continue to trade sideways. If it falls below 1150, be cautious—the downtrend may be far from over.
Sister Xing thinks this looks more like a bull trap, with a weak rebound. After the open, funds may come in only for another selloff to follow. After all, SanDisk needs to get above 1420 to set up a reversal, and the current price action gives little indication that it will reach that level#美国中期选举进入最后冲刺
The premarket picture looks broadly positive today, with tech stocks rising across the board and crude oil falling again. It looks like a recovery and rebound, but Sister Xing recommends caution!
SanDisk plunged last Friday and has now recovered from around 1117, finding support at 1150. It looks like it has stabilized and is rebounding, but Sister Xing thinks this looks more like a bull trap. Unless it can hold above 1150 and break through 1240 tonight, SanDisk still has plenty of room to fall.
Sister Xing is watching a few signals: whether the premarket gains in AI giants can hold, and whether SanDisk can break through 1200 on the one-hour chart. If it breaks through 1200, 1240 won’t be far away. If it struggles to break through, it may continue to trade sideways. If it falls below 1150, be cautious—the downtrend may be far from over.
Sister Xing thinks this looks more like a bull trap, with a weak rebound. After the open, funds may come in only for another selloff to follow. After all, SanDisk needs to get above 1420 to set up a reversal, and the current price action gives little indication that it will reach that level#美国中期选举进入最后冲刺
