Sandisk Drops Again
Sandisk Corp.(NASDAQ:SNDK) is a leading flash memory semiconductor stock that is coming under early selling pressure. This leading stock has been selling off on the daily chart since April 27, 2011 when the stock traded as high as $51.15 a share. This morning the stock is trading lower by $1.06 to $45.42 a share. There will be some short term intra-day support for this stock around the $44.50 area. This is a level where short term day traders can look for an intra-day bounce.
Other leading semiconductor stocks that are declining lower today include Texas Instruments Inc.(NYSE:TXN), Intel Corp.(NASDAQ:INTC), and Broadcom Corp.(NASDAQ:BRCM). Technology as a whole is very weak today, however, should the U.S. Dollar Index decline these stocks should catch an intra-day bounce with the overall markets.