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.

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This entry was posted on Wednesday, July 12th, 2006 at 2:24 pm and is filed under Stock Charts. You can skip to the end and leave a response. Pinging is currently not allowed.

7 Responses to “SNDK Head & Shoulders Breakdown”

By Anonymous on July 13th, 2006 at 12:10 pm

H&S………BullShit……Go back to chart school 101

By thebulltrader.com supporter to the death on July 13th, 2006 at 3:03 pm

anonymous, if you had balls you’d post your name and $2 dollar website. the chart description is right. go back to pre-K….

By JWU on July 13th, 2006 at 3:04 pm

thanks for the support!

By Paul on July 13th, 2006 at 5:52 pm

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?

By Anonymous on July 13th, 2006 at 9:12 pm

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

By JWU on July 14th, 2006 at 1:20 am

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

By Paul on July 14th, 2006 at 12:00 pm

Who cares, its down another 5% today!