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SanDisk Corp. Message Board

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  • rebeldoe rebeldoe Mar 19, 2009 2:09 PM Flag

    One month chart shows double top breakdown

    You haven't noticed the megaphone bottom have you. The triangle is forming and SNDK is headed up,not down. Gamblers,I mean investors, place your bets, I mean make your investments.

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    • A megaphone bottom is a broadening range where the highs get higher and the lows get lower. This is not what's going on in SNDK's chart.

      • 1 Reply to dccomet
      • The "megaphone" is probably suspect. However, there is no question the chart shows an extended trading range off a capitulation low. This is typical of stocks where fundamentals have dramatically changed but where there is uncertainty about where they are headed. There is a strong dispute between bears and bulls as to whether the company weathers the economic storm. This pattern will ultimately be resolved by either a deal or emergence of clarity as to the company's future. Besides the trading range, in which the stock is now working off an overbought condition, the chart doesn't reveal all that much. If the overbought gets worked off without a significant backoff, then the likelihood of an attempt at $13-14 increases. If it gets oversold at the bottom of the trading range without breaking down then the trading continues to extend and lends further credence to a presumption that a bottom has been put in.

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