SanDisk Corporation (NASDAQ: SNDK) makes and distributes NAND-based flash storage card products that are used in various consumer electronics products.
The stock has been a favorite of mine since the market lows in March 2009, and it has been a winner. It was first recommended at under $25 and doubled within one year. Now, following a consolidation with support at $40, it is again worth considering for both a trade and as a quality addition to a portfolio of technology stocks. Note the double buy signal from our proprietary indicator, the Collins-Bollinger Reversal (CBR). Also, the rising stochastic indicates that the bottom at $40 should hold.
The 12-month target for SNDK is $50 and Ford Equity Research maintains a “strong buy” recommendation, noting that SanDisk’s operating earnings yield of 9% ranks above 85% of the companies in its sector.