This is a product that tracks twice SanDisk's daily move; it collapsed from $49 to $6.5 and has since climbed back to about $12.7.
Record volume at the low was absorbed and bounce volume has halved, while weakening downside pressure and an unfilled gap from last week both land at $10-11.
If the prior low at $7.9 gives way, the whole idea that a base is forming would be wrong, which is why the stop sits just beneath it at $7.6.
The full analysis is for members
Analysis by methodology (ICT, Wyckoff, Elliott, divergence, macro, news), invalidation levels, R:R and confidence are in the member report.
