SNDK is on fire.

After bottoming at approximately $980, the stock has staged an extraordinary rebound of more than 60%, recently pushing above $1,600. The speed and strength of the recovery have dramatically changed the short-term technical picture and brought SNDK directly toward a critical resistance level: $1,650.

That level is especially important because it represents the top of the previous B Wave and appears to be the final major resistance zone before a potential breakout toward $1,950–$2,000+.

The Elliott Wave structure is becoming increasingly interesting on both the short-term and long-term charts. The immediate question is whether SNDK can decisively break through the $1,650 area. If it does, the stock could confirm a much larger bullish move already developing from the $980 low.

The larger structure begins with an enormous advance:

Wave 1: $55 to $2,354
Wave 2: $2,354 to $980
Wave 3: $4,600–$5,000 potential target

Wave 1 was an extraordinary move, carrying SNDK from just $55 to $2,354. That advance established the larger bullish structure and demonstrated the stock's ability to produce massive percentage gains during an impulsive cycle.

Following that advance, SNDK entered a deep Wave 2 correction, falling from $2,354 back to approximately $980.

That decline was obviously painful for anyone caught near the highs, but within Elliott Wave analysis, a major Wave 2 correction can create the foundation for the next major impulsive advance. The key issue is whether the correction has completed and whether the stock is now beginning the early stages of a much larger Wave 3.

The primary long-term breakout trigger is approximately $2,000, which corresponds to the important .786 retracement level.

If SNDK can break above that area to the upside, the long-term structure could open the door toward a major Wave 3 target of approximately $4,600–$5,000.

That remains the larger picture. Before SNDK can begin discussing $4,600 or $5,000, however, the shorter-term chart needs to continue confirming the recovery.

So far, it is doing exactly that.

The most important recent low came at approximately $980.

That level is currently being treated as the potential end of the larger Wave 2 correction. From there, SNDK launched into an explosive rally, moving from $980 to above $1,600 in a relatively short period of time.

A 60%+ rebound is not a minor technical bounce.

The strength of the move suggests aggressive buying has emerged from the $980 area. More importantly, the recovery is now beginning to challenge important resistance levels that could determine whether the move is merely corrective or the beginning of a new impulsive advance.

The short-term Elliott Wave structure from the low can be counted as:

Short-Term Wave 1: $980 to $1,462

That initial rally established the first impulsive leg off the bottom. After the move toward $1,462, the market entered a correction before resuming its advance.

The next major bullish projection comes into focus if the stock can sustain a breakout above the important $1,400 area.

Under this count, a successful breakout would support a Wave 3 target of approximately $1,950–$2,000.

The stock has now moved beyond $1,600, putting that target zone increasingly within reach.

The immediate obstacle is $1,650.

According to the current structure, $1,650 represents the top of the previous B Wave and therefore becomes the final major resistance before the market can potentially make a sustained move toward $2,000 and beyond.

This is the level traders should be watching closely.

SNDK has already done the hard work of recovering from $980 and moving more than 60% higher. But markets often pause or pull back near major prior resistance. The $1,650 level could therefore produce short-term volatility, profit-taking, or consolidation.

That would not necessarily be bearish.

In fact, a brief consolidation beneath resistance could simply create the energy needed for the next breakout. The key question is whether sellers can actually reverse the larger recovery or whether buyers continue absorbing supply.

A clean breakout through $1,650 would be significant because it would remove the final major B Wave resistance and leave the stock with a much clearer path toward the $1,950–$2,000 target zone.

At that point, the market would no longer be talking about a recovery from $980.

It would be approaching a major long-term breakout level.

The $2,000 area is critical for both the short-term and long-term counts.

Short term, the Wave 3 projection from the current structure points toward approximately $1,950–$2,000.

Long term, a breakout through approximately $2,000, corresponding to the .786 level, could provide confirmation that the larger bullish structure is gaining momentum.

That creates an important technical sequence:

$1,650 breaks → $1,950–$2,000 becomes the next target → $2,000 breakout activates the much larger long-term Wave 3 potential.

This is why the current rally deserves attention. SNDK is not simply moving higher without a defined structure. It is approaching multiple Elliott Wave decision points where one successful breakout could lead directly into the next.

The first is $1,650.

The second is $2,000.

If both levels are overcome, the larger count becomes dramatically more compelling.

The long-term Wave 3 target of $4,600–$5,000 may sound aggressive from current levels. But Elliott Wave analysis is specifically designed to identify the possibility of large impulsive moves before they become obvious.

The stock already demonstrated its ability to make an extraordinary Wave 1 advance from $55 to $2,354.

The subsequent correction back to $980 was severe, but it also created a potentially powerful reset in the larger cycle. If $980 proves to be the completed Wave 2 low, the market could now be beginning a new major impulsive phase.

Of course, that larger bullish scenario still requires confirmation.

The first step is not $5,000.

The first step is $1,650.

That is the immediate resistance separating SNDK from a clearer advance toward $2,000. A breakout through $2,000 would then become the more important long-term confirmation.

For now, the stock's behavior is extremely bullish. A rebound of more than 60% from $980 to above $1,600 shows that buyers have already taken control of the recovery.

The question is whether they can keep going.

SNDK has exploded more than 60% from the $980 low, pushing above $1,600 and rapidly approaching the critical $1,650 resistance level.

That level represents the top of the previous B Wave and appears to be the last major resistance before a potential advance toward $1,950–$2,000+.

The current Elliott Wave structure is:

Long Term:
W1: $55 to $2,354
W2: $2,354 to $980
W3 Target: $4,600–$5,000 if $2,000 breaks to the upside at the .786 level

Short Term:
W2 Low: $980
W1: $980 to $1,462
W3 Target: $1,950–$2,000 if the bullish breakout structure continues

The immediate level to watch is simple:

$1,650.

A decisive break above that resistance could clear the path toward $2,000. And if SNDK can eventually break the critical $2,000 level to the upside, the much larger Wave 3 scenario toward $4,600–$5,000 could begin moving from a long-term possibility into an active bullish target.

For now, SNDK is sending a clear message:

The $980 low has produced an explosive response, and the next major test is directly ahead.