{"id":5876,"date":"2026-10-05T15:16:45","date_gmt":"2026-10-05T15:16:45","guid":{"rendered":"https:\/\/tradertideinsights.com\/?p=5876"},"modified":"2026-10-05T15:16:45","modified_gmt":"2026-10-05T15:16:45","slug":"sandisk-stock-has-formed-an-ascending-triangle-is-it-about-to-surge","status":"publish","type":"post","link":"https:\/\/tradertideinsights.com\/?p=5876","title":{"rendered":"SanDisk stock has formed an ascending triangle: is it about to surge?"},"content":{"rendered":"
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SanDisk stock has remained under pressure in the past few days and is now sitting at a crucial support level. SNDK dropped to $1,720, a few points below the important resistance level of $1,893. It has formed a highly bullish ascending triangle pattern, pointing to more gains in the coming days or weeks. <\/p>\n

SanDisk stock has formed a highly bullish chart pattern<\/h2>\n

The daily chart shows that SNDK stock has rebounded in the past few months, rising from $993 in July to the current $1,720. A closer look shows that it has formed an ascending triangle<\/a> pattern, which is made up of a horizontal resistance and an ascending trendline. It has now slipped to the lower side of this pattern. <\/p>\n

An ascending triangle is one of the most common bullish continuation signs in technical analysis. In most cases, a bullish breakout tends to be strong bullish breakout whenever it nears the confluence line. <\/p>\n

The stock has moved above the Supertrend indicator. It has also remained above the 50-day Exponential Moving Average (EMA), a sign that bulls are in control for now. Also, the Relative Strength Index (RSI) and the MACD have continued rising. <\/p>\n

Therefore, the path of least resistance is bullish, with the next target to watch being the psychological level of $2,000. A move above that level will point to more gains, potentially to $2,355, its highest point this year, which is about 37% above the current level. <\/p>\n

The bullish outlook will become invalid if the stock drops below the ascending trendline. Such a move will point to more downside, potentially to the support of $1,500.<\/p>\n

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SNDK stock chart | Source: TradingView<\/em><\/p>\n

SanDisk has become a bargain<\/h2>\n

Companies in the memory space have become some of the cheapest despite their strong revenue and profitability growth. For example, Micron Technology has a forward price-to-earnings ratio of 8, much lower than the S&P 500 Index\u2019s 19. <\/p>\n

This cheap valuation is notable because it is one of the fastest-growing companies in the US. In a report released last week, the company said that its revenue jumped to over $54 billion in the fiscal fourth quarter, while its gross margin rising to 86%.<\/p>\n

The same is true with SanDisk, one of the top players in the memory industry. SanDisk has a forward PE ratio of 8, also lower than the technology sector average of 23. It is also much lower than other companies that are not growing as fast. <\/p>\n

These numbers explain why many analysts tracking<\/a> the company have a bullish outlook. Rosenblatt has a target of $2,400, while Mizuho targets $1,875. Wedbush\u2019s Matt Bryson has maintained a target of $2,000. JPMorgan targets $2,250, while Evercore has a target of $2,800. <\/p>\n

The cheap valuation is likely because investors remember the past boom-and-bust cycles in the memory space. For example, all companies in the space experienced a deep revenue dive in 2023 as the pandemic boom stalled.<\/p>\n

SanDisk\u2019s management knows this and has announced a strategy to prevent the cycle from repeating. It has entered into long-term contracts with some of the biggest companies in the industry, setting future floor and ceiling prices. <\/p>\n

The company is also expected to continue growing in the foreseeable future, with the annual revenue expected to jump by 141% to $48.9 billion. It is expected to make over $58 billion next year, and chances are that its real figures will be much higher.<\/p>\n

The post SanDisk stock has formed an ascending triangle: is it about to surge?<\/a> appeared first on Invezz<\/a><\/p>\n

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SanDisk stock has remained under pressure in the past few days and is now sitting at a crucial support level. SNDK dropped to $1,720, a few points below the important resistance level of $1,893. It has formed a highly bullish ascending triangle pattern, pointing to more gains in the coming days or weeks. SanDisk stock has…<\/p>\n","protected":false},"author":1,"featured_media":5877,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts\/5876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5876"}],"version-history":[{"count":0,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts\/5876\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/media\/5877"}],"wp:attachment":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}