SNDK: A Strong Quarter Meets a Critical Price TestSandisk CorporationBATS:SNDKSakuraSeikoSanDisk just delivered an impressive earnings report. Revenue reached $11.03 billion, AI data-center demand continues to accelerate, and management has issued an even stronger outlook for the next quarter. Yet the stock is falling sharply.That contradiction is exactly why I am not rushing to buy this dip. From a fundamental perspective, SanDisk's FY2027 Q1 results were impressive: Revenue: $11.03B, up 23% QoQ. GAAP net income: $8.1B. Non-GAAP EPS: $49.51. Q2 revenue guidance: $12.2B–$12.6B. The AI infrastructure expansion is creating substantial demand for storage capacity. Data centers need more than GPUs: they also need high-performance SSDs and NAND flash solutions. SanDisk is clearly benefiting from this structural demand. However, the market reaction matters more to my immediate trading decision than the headline numbers. Despite strong results and an optimistic outlook, SNDK experienced aggressive selling. This suggests that expectations, valuation and positioning may already have priced in a significant portion of the good news. From a technical perspective, I see three noteworthy situations.First, the previous rally toward the $1,900–$2,000 region failed to establish a sustainable trend. Second, subsequent rebounds have produced lower highs. Buyers have repeatedly struggled to reclaim previous resistance areas. Third, the latest decline has pushed price toward the $1,100–$1,150 region, leaving the short-term structure vulnerable. For me, this is not yet a confirmed bottom. The most important distinction is between a temporary oversold bounce and an actual change in market structure. A strong earnings report alone cannot invalidate a bearish 4H structure. So My Plan: Sell the Rebound Short Entry: $1,280–$1,400, after bearish rejection or 4H reversal confirmation. SL: Above $1,520. TP1: $1,100–$1,150. TP2: $1,000–$1,050. TP3: $900–$950. If price reclaims $1,400 and establishes acceptance above $1,520, I will reassess my bearish bias. SanDisk's 8-for-1 stock split is expected to take effect on November 20, 2026. While it may improve share accessibility, it does not change the company's underlying value. All my technical levels use pre-split prices. Divide them by eight when comparing post-split prices. Also I can use Bitget's eligible stock transfers of at least 5,000 USDT to qualify for 200 USDT in rSPCX before November 18. I can also explore Stock Dual Investment for additional APR opportunities or use eligible rTokens as futures margin or collateral to borrow USDT, improving my capital flexibility without immediately selling my holdings. Final Summary, what would change my mind? 1. Whether $1,100–$1,150 holds as meaningful support. 2. Whether any rebound can reclaim $1,300–$1,400 with convincing buying volume. 3. Whether the broader semiconductor sector stabilizes after the recent technology-stock sell-off. If sellers continue controlling the rebounds, I see more downside risk toward $1,000 and potentially $900. If buyers reclaim the broken resistance structure, I will step aside and reassess. My conclusion: SanDisk's AI storage opportunity remains compelling, but the current chart is telling a more cautious story. I would rather sell a confirmed rebound than buy simply because the earnings numbers look impressive. This is my personal trading framework based on the supplied 4H chart, not a guarantee of future performance. All quoted technical levels use the pre-split price scale. Always verify the split-adjusted chart before executing a trade.