Tuesday, January 02, 2007

Technical Trade Idea - SanDisk Corporation (Public, NASDAQ:SNDK ) Bullish Morning Star Reversal Pattern

SNDK has been holding support at $42.00 for over three weeks and appears poised to reverse the bearish trend near-term. Friday's action completed the three candlestick reversal pattern known as the morning star. We also have positive divergence of the MACD which has been building over the last seven weeks. My short-term target is $46.oo, however, we do have some resistance at the 20 MA and at $44.00.

No comments: