The Nasdaq is down 1.78% while the S&P 500 has shed 0.97%.Analyst Upgrades Support Bullish SentimentCantor Fitzgerald analyst C.J. Muse maintained SanDisk with an Overweight rating and raised the price forecast from $1,800 to $2,900. Mizuho analyst Vijay Rakesh reiterated SanDisk with an Outperform rating and raised the price forecast from $1,825 to $2,200.SanDisk Technical AnalysisThe trend remains bullish. SNDK trades about 8% above its 20-day SMA of $1,557.67. It also trades about 40% above its 50-day SMA of $1,200.66 and more than 200% above its 200-day SMA of $538.23.That shows strong demand. But it also means the stock is stretched. Sharp pullbacks become more likely if momentum keeps fading.MACD is the main near-term warning sign. It sits below its signal line, and the histogram is negative. That means upside pressure is cooling. The stock can still move higher, but rallies may get choppier unless momentum improves.The stock remains below its June 52-week high of $1,861. The moving-average setup still supports the bulls. The 20-day SMA is above the 50-day SMA. The 50-day SMA is also above the 200-day SMA.Traders will now watch whether pullbacks stay controlled near the 20-day and 50-day SMA zone.