SNDK Bounced 25%, but the Trend Is Still Down.Sandisk CorporationBATS:SNDKAlawan11Sandisk beat fiscal Q1 forecasts on Oct 29, with revenue of $11.03 billion against $10.7 billion expected. The stock sold off anyway. Then SNDK fell 22.3% on Nov 5 while the S&P 500 lost 4.4%, with no company announcement, earnings report or filing that day or the day before. It bounced 7% the next day on no news. That is good news, no bid, then a sector flush. The 25% bounce off 795.61 to about 993 looks like a reaction, not a repair Trend SNDK ran to about 2,340 in late June and hit a lower high near 1,900 in late Sept. Then came 1,400 in late Oct and 1,120 in early Nov, then the 795.61 low. That is about 58% down from the Sept high and about 66% down from the June peak. The 4H 200 SMA (1,524.70) has rolled over, and price lost it in early October. Levels From the 1,900 high to 795.6, the 23.6% retrace is about 1,056 and the 38.2% is about 1,217. So my range is 1,000 to 1,130: the broken July low at 1,000 to 1,010 and the early-Nov breakdown area at 1,120 to 1,130. Above that sit 1,250 to 1,300, then 1,400, then the 4H 200 SMA at 1,524.70. The supply zone is 2,320 to 2,380. Entry: a 4H candle that wicks into 1,100 to 1,130 and closes back under 1,100 Targets: 900 / 800 (800 needs the 795.61 low to hold as a magnet, not a floor) Wrong: 4H close over 1,150 Skip it if a 4H candle closes over 1,130 and holds it on a retest (that is scenario 2, a base), or if price closes under 795.61 first (that is a breakdown trade, not this setup). Stop about 4.5%, TP1 about 18%, TP2 about 27% from 1,100. Anthropic has reportedly filed to offer shares at $70–$78, implying a valuation of approximately $1.3 trillion. This is below some earlier estimates that suggested a $2 trillion valuation. Bitget has also introduced Anthropic as its third IPO Prime offering, following SpaceX and OpenAI. This creates another interesting opportunity for investors watching the intersection of AI, traditional equities, and tokenized stock exposure. Not financial advice. Projections are estimates, not guaranteed returns. Do your own research.