Veteran Wall Street trader sharply raises SanDisk stock price target - EUROPE SAYS
I have been trackingStephen “Sarge” Guilfoyle‘s Memory and Storage Basket for some time now. Four stocks. Four home runs. And of the four, Guilfoyle keeps returning to the same name with the most. . .
I have been trackingStephen “Sarge” Guilfoyle‘s Memory and Storage Basket for some time now. Four stocks. Four home runs. And of the four, Guilfoyle keeps returning to the same name with the most conviction. Mighty, mighty SanDisk. Guilfoyle, a former NYSE floor trader with more than 30 years of experience, Marine Corps veteran, and founder of Sarge986 LLC, raised his SanDisk (SNDK) price target to $2,600 from $2,425 in his latest note onTheStreet Pro. SNDK closed on June 23 at $1,963. 60, according toYahoo Finance, down 13. 64% in the session after South Korea’s Kospi crashed by more than 10%, triggering a brutal, broad tech sell-off that swept memory stocks down alongside it. Thepullback, in Guilfoyle’s view, changes nothing about the setup. SanDisk is still up 727. 20% year to date, Yahoo Finance confirmed. It is still the best-performingS&P 500component in 2026,Slickchartsnoted. And according to Sarge, the technical structure just got more interesting, not less. Also Read:Sandisk Corp. Latest News and StoriesWhat Guilfoyle sees in the chart is a breakout from a bearish patternThis is where my read aligns closely with Guilfoyle’s. The chart setup he described is one of the more compelling technical configurations I have seen on a momentum name this year. From April through June, SNDK developed what Guilfoyle identified as a rising wedge pattern. This is a bearishreversalformation. The stock has now broken out of that pattern to the upside. That distinction matters significantly, according to his note onTheStreet Pro. When a stock executes a bullish breakout from a bearish pattern, Guilfoyle notes the move is often explosive and potentially exaggerated. The memory sector catalyst sitting directly ahead is Micron’sQ3 earningson June 24. This could further amplify that move if Micron delivers the beat-and-raise quarterWall Streetis expecting. More Sandisk:The supporting technical indicators are equally constructive. SNDK has used its 21-day exponentialmoving averageas support for three consecutive months. Relative Strength has entered technically overbought territory. Nothing new for this name, Guilfoyle notes. The MACD histogram has moved well beyond the neutral line, and the 12-day EMA has crossed above the 26-day EMA, with both lines already in positive territory and widening. Here is Guilfoyle’s tactical framework. Pivot sits at $2,167 — the June 16 high — with an add trigger on any retest of the 21-day EMA. Panic level is a loss of that 21-day EMA, currently sitting near $1,813, according to the note Sarge shared with his investors onTheStreet Pro. Story Continues