Friday’s premarket gains came amid a broad risk-on tone, with investors rotating back into higher-beta technology names as equity futures pointed higher.Sandisk is also drawing attention ahead of its quarterly earnings report, scheduled for Aug. 5. With the earnings catalyst less than a week away, traders are increasingly positioning around key technical levels after the stock’s recent pullback from its June highs.Technical AnalysisSandisk remains 11.3% below its 20-day simple moving average (SMA) and 20.5% below its 50-day SMA, suggesting the intermediate trend remains under pressure despite Friday’s rebound.However, the stock is still 2.7% above its 100-day SMA and 62.6% above its 200-day SMA, indicating the longer-term uptrend remains intact.The 20-day SMA remains below the 50-day SMA, a bearish crossover that often signals a cooling phase following a strong rally. At the same time, the 50-day SMA remains above the 200-day SMA, supporting the longer-term bullish trend.Momentum indicators remain mixed. The MACD is below its signal line and the histogram remains negative, suggesting upside momentum has weakened and buyers need to regain control for the rally to strengthen.
Key resistance: $1,600, near the 50-day SMA.
