Are the Bears Taking Control over SanDisk?
Published on Friday, 15 June 2012 04:54 Written by TradersHuddle Wire
New York, June 15th (TradersHuddle.com) - Shares of SanDisk Corporation (NASDAQ:SNDK) ended the trading session lower by $0.77 or -2.14% from its previous close. SanDisk's price action formed what is considered to be a bearish engulfing candlestick chart pattern.
SanDisk Corporation (NASDAQ:SNDK) supplies flash data storage products. The Company designs, manufactures, and markets industry-standard, solid-state data, digital imaging, and audio storage products using its patented, high-density flash memory and controller technology.
SanDisk's current stock range is determined by calculated support defined at $30.99 and by the resistance level at $36.57, which should be used by traders planning their next move.
If traders want to establish a position in SanDisk, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor SanDisk for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:
- AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
- AT&T 4G LTE Available In Willimantic
- AT&T 4G LTE Available In Torrington
- AT&T And The University Of Kansas Team Up To Enhance Wireless Coverage On Lawrence Campus
- AT&T 4G LTE Available In Fargo
- AT&T 4G LTE Available In Amarillo
- Benefitfocus Announces Pricing of Initial Public Offering
- Trends of China Gear Industry 2013 Analysis & Reviewed in New Research Report at RnRMarketResearch.com
- Product Launch Formula 4.0 Bonuses Total $5000 at BrianHanson.com
- Datex Presents Motorola Solutions Webinar “Is It ‘Smart’ to Use Smartphones for the Enterprise?”
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines