WDC trade ideas
WDC Approaching Support, Potential Bounce! WDC is approaching our first support at 28.27 (horizontal swing low support, 100% fibonacci extension, 76.4% fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 47.52 (horizontal swing high resistance, 23.6% fiboancci retracement, 61.8% fibonacci extension).
Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce in price.
WDC - LongWDC has hit the support line of a 2 1/2 year low. Looking for leaps, or long term equity play.
[WDC] phase 4The price is so below to 30MM, and the RSI is low.
But I had a hypothesis. Can you see the high volume last week? I think all that dynamic in the (positive) price implies that the price's down is over. I think the price is going to recovery and it will start phase 1.
Reversal to bullish soon?MACD shows bullish divergence pattern on daily WDC chart.
Possible reversal to bullish soon?
WDC: Interesting bottom signal, cheap valuation hereThe trend in $WDC might be turning around here. Valuation is really low here, and the chart seems to indicate the weekly decline is over. I like my odds here, risking $4-$5 to the downside, for huge upside potential if the trend in flash memory turns up again.
Cheers,
Ivan Labrie.
Western Digital Corp potential bottomNASDAQ:WDC has formed a hammer after following a multi month sell off. It was followed by a strong bullish candle the next day.
The RSI had not been this low since 2009 showing that this stock is oversold.
This points to a possible bottom and bullish reversal in the coming weeks.
WDC - 08/22Not calling this the bottom, but I do like the "reversal" candle it printed and seems to be finding support over here.
Start Accumulating WDCShares of WDC have fallen precipitously over the past several weeks from north of $100 to around $62-65. However, a look at the weekly chart shows this level to be significant support, as it's 61.8% retracement of the advance from the lows in 2016 to the highs this year. Furthermore, the dashed line shows that this level was also a significant level back in 2013, because it went on to double in price from that breakout point.
Also worth noting is that we formed a bullish hammer last week, and so far this week the bulls seem to have favor. I'd like to see another flush down to $62 to get the RSI in to oversold territory, and I believe we'll get it over the next few weeks.
Data storage is an obvious requirement for life in this day and age, so the threat of extinction seems unlikely. The main threat will be simply keeping up with evolving requirements better than competitors like STX, and to a lesser extent, MU.
I've began buying to accumulate a position, as I expect it to take time to materialize in to a rally. At current levels, you get a 3.1% dividend while you hold it. Plus, at 5.5x 2018's earnings estimates, it's not expensive on a P/E basis, and with a P/S (price/sales) ratio of 0.92, it's not expensive on that basis, either. In short, I like it for a long term play on the ever-growing data business, and now is the time to start buying.
WDC: Falling wedge & decent earningsThere's a larger uptrend in play and it is outside of that channel. The falling wedge gives an indication that it may be heading back into the channel. It is sitting at the 52 week low and there's support at this level. Earnings basically hit estimate, though just slightly lower (3.647 est./3.61 actual).
It looks like there's potential here for a breakout.
$WDC WeeklyThis is a cause for concern if you're long WDC. Had a very nice breakout of consolidation just to get right back into it. Now sitting on support of lower side of flag but also has a bearish 21/50ma cross and below its 200ma on weekly chart. Risk/reward not in favor of bulls imo.
Western Digital (WDC) Set To Rise When Market FallsI have been forecasting a market top around October-December 2018 for quite a few months. Most stocks I have looked at are also pointing to a top around that timeframe. This one stock does not appear to fall with the rest of the market based on trend and derivative analysis as well as Elliott Wave Theory.
My analysis is pointing to a top between 140.54 - 174.62 between March 6, 2019 and October 7, 2019. I am leaning to beginning of July 2019 around 150.94.
WDC goes long?$WDC looks like opportunity, if you ask me. Great company, bad times, strong support. But last year I hate it and waste too much time on it and buying power. Hope this year will be different (LOL).
WDCworth to make an entry
long
TP 83
possible breaking up the wedge and consolidate
another entry would be at 83.5 area.
TP 91
just for reference
i'm not a pro trader
WDCLooking like a short to me
Broke S
Consolidated
Bearish Engulfing
TP- around 77.5
SL- around 89.3
WDC STOCK CHARTAlready bought the WDC. The price bounced on the 78.50 level completing the bullish bat as expected and the strong bullish candles confirm the correction of the impulsive wave; volume goes down according to the uprising accumulation. This is a sharp moment to joing the bulls as the sin wave announces the beggining of a new cycle.
BUY @ 80.60
SL @ 78.@
TP @ 83.60
WDC: Wave 3 started inside wave 3Looks like wave 2 on the inner wave is done and we're moving up, continuing the outer wave 3
