___________________________________________ Jan 18, 2012 (SmarTrend(R) News Watch via COMTEX) --
SanDisk (NASDAQ:SNDK) has opened bullishly above the pivot of $50.27 today and has reached the first level of resistance at $50.85. Should the shares continue to rise, the resistance pivots of $51.75 and $53.23 will be of interest.
Over the past year, SanDisk has traded in a range of $32.24 to $53.60 and is now at $51.54, 60% above that low. The 200-day and 50-day moving averages have moved 0.09% higher and 0.07% higher over the past week, respectively.
Potential upside of 16.6% exists for SanDisk, based on a current level of $51.54 and analysts' average consensus price target of $60.11. The stock should discover initial support at its 50-day moving average (MA) of $49.44 and subsequent support at its 200-day MA of $44.84.
SmarTrend is tracking the current trend status for SanDisk and will alert subscribers who have SNDK in their portfolio or watchlist when shares have changed trend direction.
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