SNDK: Can Buyers Defend the $1,100 Support Zone?Sandisk CorporationBATS:SNDKAbdullahi_AbberNASDAQ:SNDK | 1D | Reference price: $1,150.89 One thing I've learned from watching the stock market is that strong earnings don't always translate into an immediate price increase. Sandisk is a good example of that right now. The company reported impressive quarterly results, yet the stock dropped 13.47% on Friday, October 30, bringing the price to $1,150.89. For me, the important question now is whether this pullback creates a potential recovery opportunity or signals further downside. What's driving the move? Sandisk reported $11.03 billion in fiscal Q1 2027 revenue, up 378% year over year. A few things stood out to me: - Data-center revenue increased 61% quarter over quarter to $4.8 billion. - Non-GAAP EPS came in at $49.51. - The company expects Q2 revenue between $12.2 billion and $12.6 billion. - Sandisk also announced an 8-for-1 forward stock split. These figures highlight the growing demand for AI data-center storage. However, investors are still weighing expectations, profitability and future growth. What I'm watching on the daily chart Looking at my chart, SNDK has been trending lower since its recent highs and is now approaching a previous support region. These are the levels I'm keeping in view: - $1,100–$1,150: Immediate support area. - $1,250–$1,300: First recovery zone. - $1,500–$1,600: Next resistance area. - $1,850–$1,900: Major supply zone. - $2,000: Longer-term upside area in my projected scenario. My bullish scenario I'm watching how price behaves around $1,100–$1,150. If buyers defend this area and the stock starts forming higher lows, I'd like to see a recovery toward $1,250–$1,300 first. A successful move above that region could open the way toward $1,500–$1,600. The larger recovery path on my chart points toward $1,850–$2,000, but I see that as a longer-term possibility rather than an immediate target. What could invalidate the setup? I don't want to assume that support will hold. If SNDK breaks below $1,100 and fails to recover it, the bullish scenario becomes weaker. I'd then watch the region around $1,050 for the next possible support. For now, confirmation matters more to me than trying to catch the exact bottom. Thinking beyond the share price As someone interested in long-term stock investing, I also pay attention to how I can get more flexibility from my holdings. I use Bitget for this, and features like eligible stock-transfer rewards, Dual Investment on selected rTokens, and using eligible rTokens as margin or borrowing collateral give me more ways to manage my assets. Bitget currently offers 200 USDT worth of rSPCX for eligible first transfers of at least 5,000 USDT, while Gate offers a 20 USDT rebate coupon and a seven-day 10% APR boost. For me, it's not just about holding stocks; it's also about understanding how to make those holdings work more efficiently, while managing the risks. My takeaway SNDK still has a strong growth story, but the recent sell-off reminds me that even impressive earnings cannot remove market uncertainty. My attention is on the $1,100–$1,150 support region. I'd rather wait for a clear reaction before considering the next move. Would you watch this pullback as a potential buying opportunity, or wait for stronger confirmation first? This is my personal market analysis, not financial advice. All chart levels are pre-split prices and should be adjusted after the 8-for-1 split. Investing involves risk.