SanDisk after its decline is near an upward channel's bottom while trending down. It should move away quickly and rise toward the pivot low around $1500; doing so in coming days would avoid downward volatility. More pressure raises break risk and a drop to support around $1150; near term may rebound or pull back.

I am talking here about data storage companies, specifically SSD stocks, such as WDC and SanDisk. These stocks have seen sharp declines from their peak of around $800, falling by more than 50%.

Has the price reached its bottom? Actually, I'm not sure at this stage. We have had two positive days following heavy selling on Friday. But look at the chart, you'll find two support levels here just below $300, and then another support level here at around $320.

In addition, I have a descending trend line that has acted as support in every attempt to go down, but we have not reached it yet as of Friday. This leads me to believe that we may see more selling pressure on stocks such as WDC and SanDisk.

But at the moment , after the market closes, we are seeing at least a slight rise. Many investors may have bought the stocks too early when they were low, causing them to rise, because they eventually fell significantly.

But at the moment, after the market closes, we are seeing at least a slight rise. Now we move on to SanDisk stock. This stock appears to be more structurally stable , given its significant decline.

But as you can see, we are now approaching the lowest level in this parallel upward channel . The price is now trending downwards. Therefore, SanDisk's price should move away from this level as quickly as possible and start rising towards the low end of this pivot point around $1500.

If he manages to do that in the coming days, he will save himself and get out of the downward volatility. The more pressure is applied to these levels, the greater the likelihood of them being broken, which could lead to the price dropping to the next major support level here around $1150 on the charts.

But as you can see, we are now approaching the lowest level in this parallel upward channel. The price is now trending downwards. Therefore, SanDisk's price should move away from this level as quickly as possible and start rising towards the low end of this pivot point around $1500.

If he manages to do that in the coming days, he will save himself and get out of the downward volatility.

Well, that's why I think both WDC and SanDisk stocks may experience short-term rebounds, but I also think they may pull back a little in the near term. We will see how the earnings of technology companies will affect these stocks in the near term.