SanDisk shares fell 10.32% to $1,431.40 at 10:26 AM EDT on Monday, extending a weekly drop of roughly 20% after the stock had surged 485% year-to-date and nearly 2,983% over the past 12 months.
Technical indicators signaled extreme oversold conditions, with the hourly Relative Strength Index at 25.2 and the StochRSI at 6.2, both near historic lows. The Commodity Channel Index on the same timeframe stood at -342.5, while the hourly Average Directional Index rose to 30.1, indicating a developing downtrend. The weekly MACD remained positive at +176.7, contrasting with the intraday weakness.
Moving averages reflected the selloff, with the 5-day simple moving average at $1,565.58 and the 10-day SMA at $1,539.93. The daily EMA10 was quoted at $1,514.35. Daily pivot supports at $1,572.70, $1,549.33 and $1,528.65 were all breached in a single session, with the stock recording an intraday low of $1,416.56.
Near-term support levels were identified at $1,397.61 on the hourly chart and $1,365.69 on a major hourly basis, while structural support converged around $1,369 on the weekly timeframe. Resistance points included the hourly pivot at $1,448.78 and the pre-market level at $1,492.37, which now serves as a key recovery target.
Volume reached 4.7 million shares during the session, reflecting elevated participation in the decline.
