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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: Johnny Canuck who wrote (36430)	3/13/2002 11:47:44 AM
From: Johnny Canuck	Read Replies (1) of 68077

SanDisk Breaks Through -- 11:00 AM EST by \Qi Feng Lau SanDisk [SNDK: Nasdaq] made a penetration of the major downtrend line drawn through the March and Dec. 2000 peaks with a surge in prices from March 1 to 5, a highly bullish sign. Trading volume was very strong, giving the breakout legitimacy. Prices may consolidate in the short-term, but should make strong gains in the coming months. So far, prices have pulled back and filled the March 5 up gap. A test of the uptrend line is possible. Therefore, IDEAglobal expects SanDisk to rise to $24 in three to six months. Resistance also lies at $22. However, a close under $18.50 is a short-term negative. SanDisk is a leading maker of flash memory storage chips and devices that retain data when power is off. Risk Tolerance: **( Low risk, ***** High risk)

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