SanDisk (SNDK) Looks Poised for Bull Run
09/16/2009 10:25 am EST
SanDisk Corp. (SNDK) -- This company makes and distributes NAND-based flash storage card products that are used in various consumer electronics products.
SanDisk (SNDK) has given off a series of strong technical signals since flashing a gold cross in April.
On September 9, SNDK broke through a triple top (right triangle) backed with a strong new Moving Average Convergence/Divergence (MACD) buy signal.
Volume supports the breakout, and the trading target is $24.
However, longer-term buyers will want to hold on for even higher prices since this stock appears to be on the verge of a major bull market.
By Sam Collins of OptionsZone.com