SNDK Head & Shoulders Breakdown
By Johns Wu on Jul 12, 2006
SNDK, SanDisk Corp., broke down at a key support a few days ago. Consequently, support became resistance.
Today, SNDK made a retest of this resistance, but was soldoff and shorted. This is a bearish signal. The markets have been looking weak lately, so keep an eye on this stock chart in the next few days.
7 Responses to “SNDK Head & Shoulders Breakdown”
anonymous, if you had balls you’d post your name and $2 dollar website. the chart description is right. go back to pre-K….
I’ve been watching sndk, mainly because of its head n shoulders pattern. I missed the neckline breakdown because I was out of town. Would you wait for SNDK to retest the $46 resistance level or just short this thing now?
Despite the lack of symetry, improper volume pattern, and a neckline that has too great a slope, you call this a H&S pattern….
OK, if I accept that (which is a crock), I must then assume that your target is to AT LEAST $20, based on a measured move, correct?
Again, I GOTTA CALL BULL$HIT!!!
Description is just as false as it was the first time!
John
symmetry is fairly good. not the best, but acceptable for a popular largecap stock like this.
the volume pattern (and the the chart itself) becomes more apparent with weekly candles.
finally, theres not really a set rule for the slope of a neckline.. some say the faster they rise, the harder they fall
Who cares, its down another 5% today!
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H&S………BullShit……Go back to chart school 101