SNDK, WDC and STX Forecasts – AI Parts Look to Rally

SanDisk Technical Analysis

Sandisk looks like it is trying to rally a bit during the pre-market trading on Monday, and I think at this point in time Sandisk has proven itself to be important enough that each time short-term drops occur, people are willing to jump in and buy it. We are in the midst of forming something along a bullish flag and if we were to break down below the $875 level, then it could open up a move down to the $800 level.

That being said, the market move is measured at $400, therefore I think if we break out to the upside, we could be looking at Sandisk trying to get to the $1,300 level. That’s obviously a longer-term move but I don’t see anything on this chart that suggests we can’t do that.

Western Digital Technical Analysis

The market for Western Digital looks like it is still going to be positive as we are positive in the pre-market trading, and I think now we’re trying to get to the $400 level short-term. Pullbacks I think offer buying opportunities that people will continue to look at the $350 level and ultimately there’s nothing on this chart that suggests we should be short. I like it, but I also recognize we’re a little bit stretched at the moment.

Seagate Technical Analysis

Seagate Technologies looks like it’s ready to continue just ripping to the upside. I think pullbacks I think have plenty of support near the $500 level. The market is likely to continue to be noisy but there’s no way you can short this market. Keep in mind that the next earnings call is on the 28th, so we’re a little over a week away from that, so I think you’ve got a little bit of time before that becomes a major factor, but clearly Seagate is one of the darlings of Wall Street and it’s possible that it will continue to be. I have no interest in shorting any of the stocks in this video and they all look very strong.

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