Tag: Western Digital

Western Digital Corporation Stock Code WDC.NAS

Outlook

Price broke above the cloud in the previous trading session, changing the chart outlook to bullish.  Conversion line and base line are about to have a bullish crossover. Lagging Span is above price of 26 days ago but is inside the cloud at the moment.  MACD has a bullish crossover and is hinting at a bullish price trend ahead.  If price can stay above the cloud, it could be heading towards the next resistance point at $41.14 in the next 2-3 weeks..

Strategy                  

$37.15                Buy

$41.15                Price Target

$35.15                Risk Management Stop

3 weeks              Trade Duration

Western Digital Corp Stock Code WDC.NAS

Outlook

Price tested the cloud but was capped by the lower edge of the cloud, keeping the bearish price trend intact. In the previous trading session, price also broke below a mini Double top chart pattern just below the cloud with a gap, highlighting a strong bearish price trend. Lagging Span is above price of 26 days ago but is below the cloud. MACD remains bearish and could be turning down from the zero line, hinting at a bearish price trend. We think price is likely to move lower to the previous low at $41.80 in the next 2-3 weeks.

Strategy 

$47.10                Sell

$41.80                Price Target

$49.80               Risk Management Stop

3 weeks              Trade Duration