WDC has fallen more than 50% from a peak near $800 and is not clearly bottomed; support sits just below $300 and near $320 and a descending trend line is not yet reached, so more selling pressure may come. Short-term rebounds are possible, but so is a near-term pullback; tech earnings will shape it.

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.

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.