SNDK, WDC and STX Forecasts – Computer Companies Fall with Everything Else

SNDK Technical Analysis

SanDisk looks like it’s going to open up soft after selling off hard during the previous session, as Friday looks like it could set up to be somewhat ugly. This being the case, we do have a lot of support just below, near the 50-day EMA, with the $550 level offering support.

Short-term drops from here will end up being opportunities, I think, before it’s all said and done, but the SanDisk situation is going to be very similar to other stocks around the world, not just here in the States, as everybody is running in fear from anything risk-related due to the conflict in the Middle East.

WDC Technical Analysis

Western Digital looks like it’s going to drop toward the 50-day EMA at the open. The question is whether or not the buyers return. I think they probably will, before it’s all said and done, because of course Western Digital is in high demand due to AI data centers, just as SanDisk is, and just as Seagate, the next stock, will be.

But here is a situation where we are pulling back towards the bottom of a consolidation area. I do think that it is probably only a matter of time before we see buyers coming in to take advantage of cheap shares. We’ll just have to wait and see if the $250 region holds as support. I don’t want to be the first person to buy this.

STX Technical Analysis

Seagate looks like it’s going to drop as well. $350 could be an interesting area. But again, I don’t want to see massive drops and then try to catch a falling knife.

A little bit of patience probably goes a long way here, as Seagate, of course, will be crucial for the AI infrastructure, but we also, at this point in time, look very much like a market that is trying to find its footing. If we can bounce, then great. I think buying on the right-hand side of the V is the way to go. The trend and the story are still intact. It’s just all of the fear and rising interest rates in the United States that are causing havoc at the moment.