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[Previous entry: "Forex signals vs being an actual trader."] [Main Index] [Next entry: "FibMaster USD/JPY Forex update 2006/05/22"]
05/22/2006 Archived Entry: "SNDK Sandisk Corp near support in a down-trend."
SNDK daily chart. Click here for SNDK chart Here is a chart showing SK support using Fibonacci expansion and retracement studies. Probable break of $58 support could offer some good shorts. Long above $66 if it can get there.. Near-term SK support %57.50 to $58.00. Wait for that to break, then short rallies intraday for a potential move to the
support area at $51.00 to $53.00 area. $58.00 to $66.00 is consolidation zone, subject to whipsaw so be careful with intraday longs. Above $66.00 SNDK is bullish again (intraday longs more attractive). -Neal.
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