Sandisk Corporation (NASDAQ:SNDK) stock fell nearly 5% in Monday’s premarket session as investors turned cautious ahead of the company’s earnings report later this week.

Meanwhile, Nasdaq futures edged up 0.03%, while S&P 500 futures gained 0.44%.

Sandisk is scheduled to report quarterly results on Aug. 5, putting the stock in focus ahead of the event.

Wall Street expects Sandisk to report earnings per share of $33.38 on revenue of $8.24 billion for the quarter.

A year earlier, the company reported earnings of 29 cents per share on revenue of $1.90 billion.

Sandisk remains in a long-term uptrend, although its short-term momentum has weakened.

The stock is trading 23.1% below its 20-day simple moving average and 32.1% below its 50-day simple moving average, reflecting a sharp pullback in recent weeks. However, it remains 37.7% above its 200-day simple moving average, indicating the longer-term trend is still intact.

The MACD indicator remains below its signal line, pointing to weakening momentum. Meanwhile, the 20-day moving average sits below the 50-day average, while the 50-day average remains above the 200-day average. That setup suggests near-term pressure persists even as the broader trend remains positive.

Key resistance stands near $1,331.94, around the 100-day simple moving average. Key support is near $1,004.68, close to the 200-day exponential moving average.

The stock trades at about 41.5 times earnings, reflecting a premium valuation. Analysts maintain a consensus Buy rating with an average price forecast of $2,031.69. Recent research actions include:

Sandisk carries a Momentum score of 99.9, highlighting its strong long-term price performance despite the recent pullback.

Its Value score of 11.07 indicates the shares continue to trade at a relatively rich valuation compared with the broader market.

SNDK Stock Price Activity: Sandisk shares were down 4.61% at $1158.81 during premarket trading on Monday, according to Benzinga Pro data.

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