Valued at $14.9 billion, Sandisk Corp. (SNDK) is a flash and advanced memory technology innovator. It looks like Wall Street analysts are beginning to notice Sandisk – and since the Trend Seeker signaled a buy on Aug. 13, the stock has gained 118.9%, highlights Jim Van Meerten, analyst at Barchart.
SNDK hit a new all-time high (since its spinoff in February) this week. It has a Weighted Alpha of +251.96, it has gained 90.7% over the past six months, and it’s trading above its 20-, 50-, and 100-day moving averages. The Relative Strength Index (RSI) is at 94.8 and there’s technical support around $100.07.
Sandisk Corp. (SNDK)
Don’t forget the fundamentals. Revenue is projected to grow 19.9% this year and another 10.7% next year. Earnings are estimated to increase 100.1% this year and an additional 46.9% next year. Wall Street analysts tracked by Barchart have issued 11 “Strong Buys,” six “Holds,” and only one “Sell” opinion on the stock.
Still, I caution that SNDK is volatile and even speculative in the current environment, which means investors should use strict risk management and stop-loss strategies.
