TMCnet News
Upgrade Alert for SanDisk (SNDK)Jan 14, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- SanDisk (NASDAQ:SNDK) was upgraded from Hold to Buy at Cross Research today. The stock closed yesterday at $46.53 on volume of 6.2 million shares, above average daily volume of 4.0 million. SanDisk Corporation supplies flash data storage products. The Company designs, manufactures, and markets industry-standard, solid-state data, digital imaging, and audio storage products using its patented, high-density flash memory and controller technology. In the past 52 weeks, SanDisk share prices have been bracketed by a low of $30.99 and a high of $53.08 and closed yesterday at $46.53, 50% above that low price. The 200-day and 50-day moving averages have moved 0.3% lower and 0.63% higher over the past week, respectively. Potential upside of 9.5% exists for SanDisk, based on a current level of $46.53 and analysts' average consensus price target of $50.96. The stock should find initial support at its 50-day moving average (MA) of $42.37 and further support at its 200-day MA of $40.47. SmarTrend recommended that subscribers consider buying shares of SanDisk on December 10th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.70. Since that recommendation, shares of SanDisk have risen 9.0%. We continue to monitor SNDK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |