Been keeping an eye on SNDK the past couple weeks. Not gonna lie, I didn’t catch the early part of this move, only started paying attention after it was already trending.
At this point I’m not really trying to figure out the bigger story behind it. The chart is doing enough on its own.
On the daily it’s just been steady higher highs and higher lows. What stood out to me was how clean the pullbacks have been. Every time it dips, it finds buyers pretty quickly and doesn’t really lose structure.
What got me in was a pretty standard Bollinger Band setup. Price pulled back into the 20 day, bands tightened up a bit, then you get expansion and it starts pushing back toward the upper band.
I didn’t take it at the breakout. Waited for it to come in a bit, see if it holds, then got in on the move back up.
I’ve got about 1800 shares here, started building the position late January on that pullback. Still not full size.
Right now it’s kind of riding the upper band. From experience that can keep going longer than you expect, but it also means entries get worse if you’re late.
I’m basically just watching the mid band at this point. If it keeps respecting that, I’ll stay in. If it starts closing below that level, I’ll probably trim and wait.
There’s also that recent consolidation area below that I’d expect to get tested if it loses momentum.
Could definitely be wrong here. Just following the structure for now.
Did everyone catch this rally? Managed to take some profits from it?