$SNDK downside target: $800Sandisk CorporationBATS:SNDKToniEvanuThe $800 target is aggressive, but it is not random. The chart shows where the upside acceleration began, where the current structure is failing, and where the next major Fibonacci extension sits. SNDK made a near-vertical move from roughly $700 to above $2,300. Moves that steep create weak structure underneath because price travels through areas too quickly to build durable support. Since topping, SNDK has produced a sequence of failed recoveries and lower highs. Buyers pushed it back toward roughly $2,000, then $1,750, then the $1,600 area. Each recovery has been weaker than the one before it. The latest candle strengthens the bearish argument: Opened near $1,551 Traded as high as $1,573 Fell as low as $1,411 Closed near $1,436 Lost approximately 10.8% in one session That means SNDK attempted to recover into the Fibonacci resistance cluster, failed, and closed near the bottom of the daily range. Sellers controlled the session. Where SNDK sits now The important chart levels are approximately: $1,510: 50% retracement $1,467: 61.8% retracement $1,405.76: 78.6% retracement $1,327.54: full retracement level $1,101.64: 1.618 downside extension $736.12: 2.618 downside extension SNDK already closed beneath the 61.8% level and nearly tested the 78.6% level at $1,405.76. That makes $1,405 the first decision point. A close below $1,405 would show that the current support cluster is failing. The next major test would be approximately $1,327. Losing $1,327 would be more significant because that level represents the bottom of the measured retracement range. Below it, price would no longer be correcting inside the existing structure. It would be expanding beneath it. That opens the path toward $1,101. Why the target is $800 The deeper Fibonacci extension sits at approximately $736.12. I would not necessarily use $736 as the public target because stocks frequently reverse before reaching an obvious technical level exactly. Traders cover short positions, buyers anticipate support, and price can front-run a measured target. That makes $736 to $800 the practical target zone. The $800 level also lines up with the area where SNDK’s strongest vertical acceleration began. Before the stock exploded toward $1,000, $1,500, and eventually above $2,000, it spent meaningful time trading around the $600 to $750 region. That matters.