| SNDK The Bullish Stock Case |
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| Tuesday, February 21, 2006 |
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Evening Update - SNDK
SanDisk Corp. (SNDK)- Daily Chart
The daily chart shows that SNDK has been in a wave 3 to 4 correction since the beginning of this year. As you can see on the daily chart, SNDK remains in it's ABC corrective channel and is in a continuation wedge/falling wedge reversal pattern. Remember this: every falling wedge reversal requires a catalyst. Eranings could be the catalyst for SNDK. Furthermore, there is high short interest which could also propel SNDK higher. The breakout out above the down trend line is around $56.00. Statistically falling wedge reversals retrace 65% of the move. That would put SNDK around $67.00 -- to $70.00. The Aroon, Williams%. and PPO are still bearish, but the RSI and Stochastics have bottomed and are beginning to reverse upwards.
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SNDK CLICK CHART FOR PREVIOUS SNDK TRADES
SNDK AFTER---CLICK CHART FOR PREVIOUS SNDK TRADES
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