Amazon and SanDisk in Focus as US Stock Market Shows Signs of Optimism
The US stock market has shown signs of optimism despite a negative opening on Monday. The Russell 3000 index, a benchmark for the US stock market, closed the week at 4402.19 with a gain of ~1.09 percent. This positive movement was seen in other major indices such as S&P 500 and NASDAQ Composite.
Amazon.com, Inc. (NASDAQ: AMZN) and SanDisk Corporation (NASDAQ: SNDK) are two large-cap stocks that have been analyzed from a technical standpoint. According to the analysis, Amazon's target price is expected to be around $2200 with a stop-loss at $1800 for a duration of 2-4 weeks. In contrast, SanDisk's target price is projected to reach $120 with a stop-loss at $90.
The analysis is based on technical indicators and the current market performance of these stocks. However, it is essential to note that past performance is not a reliable indicator of future results, and investment decisions should be made with caution.