Company Description: SanDisk Corporation designs, develops, manufactures, and markets NAND-based flash storage card products that are used in various consumer electronics products. Flash storage technology allows digital information to be stored in a durable, compact format that retains the data even after the power has been switched off. It offers removable cards, embedded products, universal serial bus flash drives, and flash-based digital media players, as well as wafers and components. The company’s removable card products are used in various consumer electronics devices, such as mobile phones, digital cameras, gaming devices, and laptop computers; and embedded flash products are used in mobile phones, navigation devices, gaming systems, imaging devices, and computing platforms. It offers its products through retail and original equipment manufacturer distribution channels primarily in the United States, the Asia Pacific, Europe, the Middle East, and Africa. The company was formerly known as SunDisk Corporation and changed its name to SanDisk Corporation in August 1995. SanDisk Corporation was founded in 1988 and is based in Milpitas, California.

Our Analysis: The shares of SanDisk Corp. 'SNDK' set a new yearly closing high yesterday on heavier than normal trading volume. In the process they completed a "cup pattern" with a measured move to our initial price target of $36.17/share. Additionally the Philadelphia Semiconductor Index 'SOX' also set a new yearly closing high. These are very bullish trading signals. On a longer term basis I am expecting the shares of 'SNDK' to test $ 58.10/share on a closing basis, a point of upside resistance established in early September of 2007. I see downside support on the shares of 'SNDK' @ $34.21/share, and have set my stops accordingly at $33.81/share.