Market Momentum ReversesOn July 1, BofA analyst Wamsi Mohan reiterated a Buy rating on Sandisk and raised the price forecast from $2,100 to $2,500. Mohan stated, "We expect supply/demand imbalance in the NAND market to remain through 2027," noting that pricing should hold up through at least mid-2027.Next-Generation NAND SamplingGeopolitical And Supply RisksThough shares advanced Tuesday, Mohan highlighted downside risks for the memory sector. These factors include capacity acceleration from China’s Yangtze Memory Technologies Co. (YMTC), potential global oversupply, and market share shifts within enterprise solid-state drives (SSDs).Sandisk (SNDK) Critical Levels To WatchFrom a trend perspective, SNDK is still in a bullish long-term structure: it’s trading 129.5% above its 200-day SMA ($761.28) and 41.8% above its 100-day SMA ($1232.47). The shorter-term picture is more mixed, with the stock 10.9% below its 20-day SMA ($1960.11) but 2% above its 50-day SMA ($1713.37).RSI is the cleaner momentum read right now, sitting at 47.82, which points to neutral momentum rather than an overbought chase.Key turning points also fit that story: the most recent swing high and the 52-week high both came in June, followed by a swing low in April, and the stock broke below support in May before trying to stabilize. With the 20-day SMA still above the 50-day SMA (bullish) and the 50-day SMA above the 200-day SMA (bullish long-term).