SanDisk (SNDK) Offering Traders Another Chance

11/13/2009 12:01 am EST

Focus: STOCKS

SanDisk Corp. (SNDK) - This company makes and distributes NAND-based flash storage card products that are used in various consumer electronics products.  



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SNDK has given a series of strong technical signals since flashing a gold cross in April. 

In a previous article, when SanDisk was at $20.32, I noted, "SNDK broke through a triple top (right triangle) backed with a new strong 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."

SanDisk made the trading target of $24 and has pulled back to the 50-day moving average at $21, where it may be bought again by traders and longer-term investors. 

The target for traders is $26.

By Sam Collins of OptionsZone.com

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