We Have a Runner!
Sandisk ($SNDK) is running wild in response to the firm’s investor day on Thursday.
While unhappy that we sold most of our long position here at the Sarge-folio, we can take solace in the fact that at least we did not sell it all and that we did add an odd lot to the odd lot that we had left going into the event. Do we even have a round lot in inventory? Rather not talk about it.
For a stock that we had traded masterfully through the spring, we sure have managed to turn a grand slam into a triple. Still, we could have missed the memory/storage trade of 2026 and we did not. That said, we have a broken pattern.
Readers will see that our head-and-shoulders pattern has gone the way of the dinosaur, the blacksmith and the NYSE floor trader. The shares took back their 21-day SMA on Thursday and are trying to take back their 50-day SMA this morning. Should this happen, as the swing crowd is already on board, the pros will have no choice but to increase long side exposure further. That blue line is the pivot. Both relative strength and the daily MACD are wearing their rally cpas as well. Take that blur line and a target price of $2,155 is very realistic.
Positions: Long SNDK equity.
