Sandisk Corporation (NASDAQ:SNDK) stock moved higher on Thursday, driven by a sector-wide rally among memory chipmakers.

The advance followed the second-quarter financial results of NVIDIA Corporation (NASDAQ:NVDA), which reported its earnings Wednesday after market close.

Sandisk stock is reacting to the strong performance by NVIDIA. Nasdaq futures are up 1.04% while S&P 500 futures have gained 0.44%.

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Nvidia Delivers Double Beat

Nvidia posted second-quarter revenue of $96.22 billion, representing a 106% year-over-year increase. The revenue performance topped the Street consensus estimate of $92.18 billion.

Adjusted earnings per share reached $2.22, beating the consensus estimate of $2.10.

Data Center revenue expanded 117% year-over-year to $89 billion. Edge Computing revenue gained 27% to reach $7.2 billion.

Gross margin for the quarter came in at 75%, up from 74.9% in the prior quarter and 72.4% in the second quarter of the previous year.

Key Support and Resistance Levels

From a trend perspective, Sandisk stock is still extended on a longer horizon: at $1566.00 it’s trading 63.8% above its 200-day SMA ($958.49), which keeps the bigger picture pointed higher despite recent chop. At the same time, it’s trading 3.3% below its 50-day SMA ($1624.25), a sign the stock has been digesting gains rather than accelerating.

Momentum is best framed through RSI, which sits at 49.34—basically neutral—suggesting the stock isn’t stretched in either direction right now.

The moving-average structure is mixed: the 20-day SMA ($1435.28) is below the 50-day SMA (a bearish crossover), but the 50-day SMA remains above the 200-day SMA (a bullish longer-term alignment). That combination often shows up when a strong uptrend pauses and works off excess momentum before the next directional move.

  • Key Resistance: $1696.50 — a nearby ceiling that also sits close to the 50-day SMA zone, where rebounds can stall if buyers don’t follow through
  • Key Support: $1485 — a nearby floor that lines up with the stock’s short-term trend area (around the 20-day EMA at $1495.90), where dip-buyers may try to defend

SNDK Price Action: Sandisk shares were up 4.44% at $1565.87 during premarket trading on Thursday, according to Benzinga Pro data.

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