SanDisk major resistance ahead, and a bullish price pattern 01/06 10:51 AM
The stock has been on a tear to the upside over the last several weeks. There is an active bullish flag on the daily chart, that became active when price crossed above $30. Upside potential for the pattern is to the $40 area. There is a major obstacle ahead for the shares however when we look at the weekly time frame. On that basis, the 200-week moving average, last at $32.41, appears to be formidable resistance. A breakout above this moving average would be bullish. There is a risk that the shares could be turned back from this area. In that event, support would be at $30.95, $30.47.
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<<i'm a Trader who also maintains a solid long term core position in 4 stocks, SNDK is one of them.>>
That said, do you ever trade some of your SNDK stock? I haven't sold any but it's my biggest holding. Was very tempted to sell 1/3 of it this am but didn't.
pretty sure you were directing that to lulibob?
anyway i'm a Trader who also maintains a solid long term core position in 4 stocks, SNDK is one of them.
trading pays the bills, entertainment, vacations, and pocket money.
Good luck to you rebeldoe
You just don't understand the mindset of a long term INVESTOR. We research the stock and THEN start a position. We develop an exit strategy and WAIT. The ups and downs don't effect our thinking and when the price we set arrives we EXIT. Only a fool tries to out guess the market movement. I just read that 97% of day traders LOSE money. I don't think that you are part of the winning 3%.
Dude, i'm holding since last March in 13's, and added in Sept. at 20.40. Have no intention of selling and paying my short term tax rate which is the max.
i'll consider selling some (not all) in Dec. Meantime i'm a very happy camper.