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The Jeff Cooper Mailbag: Where Is Sandisk Going?

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Jeff Cooper gives his thoughts on Sandisk following last night's trading webinar.

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Hi Jeff,

I just oined the Daily Market Report last night after your webinar. What do you think about Sandisk (SNDK) here?

-Terry


Thanks Terry.

This morning, I sent a note [subscription required] flagging the Lizard Buy setup in Sandisk (SNDK).

As discussed on last night's webinar (a replay is available here), a Lizard Buy signal is a bottoming tail that is a new 10 day low with the open and close at/near session highs.

SNDK impulsed over its 50 day moving average from the get go, followed by a first pullback which was an entry opportunity.

I would wait for a move over the morning highs to establish a pilot position. I would complete the position on a test of the first intraday pullback around 94.80 which is near the 95 strike.

Good luck,

Jeff

Twitter: @JeffCooperLive

Get Jeff's commentary plus day & swing trading ideas each day with a FREE 14 day trial to Jeff Cooper's Daily Market Report.
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