Thank you very much;
you're only a step away from
downloading your reports.
Jeff Cooper: SanDisk May Find New Support at its 20-Day Moving Average
If SanDisk breaks its 20-day moving average instead, it may head to $90.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

SanDisk's (NASDAQ:SNDK) change in character yesterday (June 9), when it stabbed down in contrast to broad market strength, was a tell-tale sign telegraphing today's follow-through. This follow-through perpetuated the first test of SanDisk's 20-day moving average since it reclaimed it in mid-April. SNDK was one of the first tech names to turn up strongly at that timw, so its behavior here will be worth watching. Note how the large gap in mid-April following an undercut of the 20 and 50 DMAs set up the persistent creep higher for the last seven weeks.

The normal expectation is the first test of the 20 DMA defines support. However, an authoritative break of the 20 DMA with follow-through probably indicates a test of the $90 strike.

Below is a daily SNDK chart for 2014 with its 20 (Blue) and 50 (Yellow) DMAs.

http://image.minyanville.com/assets/buzzbanter/charts/original/061014/SNDK_Daily_Char_1402425110.jpg


Twitter: @JeffCooperLive
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
Jeff Cooper: SanDisk May Find New Support at its 20-Day Moving Average
If SanDisk breaks its 20-day moving average instead, it may head to $90.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

SanDisk's (NASDAQ:SNDK) change in character yesterday (June 9), when it stabbed down in contrast to broad market strength, was a tell-tale sign telegraphing today's follow-through. This follow-through perpetuated the first test of SanDisk's 20-day moving average since it reclaimed it in mid-April. SNDK was one of the first tech names to turn up strongly at that timw, so its behavior here will be worth watching. Note how the large gap in mid-April following an undercut of the 20 and 50 DMAs set up the persistent creep higher for the last seven weeks.

The normal expectation is the first test of the 20 DMA defines support. However, an authoritative break of the 20 DMA with follow-through probably indicates a test of the $90 strike.

Below is a daily SNDK chart for 2014 with its 20 (Blue) and 50 (Yellow) DMAs.

http://image.minyanville.com/assets/buzzbanter/charts/original/061014/SNDK_Daily_Char_1402425110.jpg


Twitter: @JeffCooperLive
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
Daily Recap
Jeff Cooper: SanDisk May Find New Support at its 20-Day Moving Average
If SanDisk breaks its 20-day moving average instead, it may head to $90.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

SanDisk's (NASDAQ:SNDK) change in character yesterday (June 9), when it stabbed down in contrast to broad market strength, was a tell-tale sign telegraphing today's follow-through. This follow-through perpetuated the first test of SanDisk's 20-day moving average since it reclaimed it in mid-April. SNDK was one of the first tech names to turn up strongly at that timw, so its behavior here will be worth watching. Note how the large gap in mid-April following an undercut of the 20 and 50 DMAs set up the persistent creep higher for the last seven weeks.

The normal expectation is the first test of the 20 DMA defines support. However, an authoritative break of the 20 DMA with follow-through probably indicates a test of the $90 strike.

Below is a daily SNDK chart for 2014 with its 20 (Blue) and 50 (Yellow) DMAs.

http://image.minyanville.com/assets/buzzbanter/charts/original/061014/SNDK_Daily_Char_1402425110.jpg


Twitter: @JeffCooperLive
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
EDITOR'S PICKS
 
WHAT'S POPULAR