WESTERN DIGITAL CORP (WDC) Stock Technical Analysis
NASDAQ:WDC - Nasdaq - US9581021055 - Common Stock - Currency: USD
Taking everything into account, WDC scores 8 out of 10 in our technical rating. In the last year, WDC was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
The long and short term trends are both positive. This is looking good!
WDC is part of the Technology Hardware, Storage & Peripherals industry. There are 32 other stocks in this industry. WDC outperforms 80% of them.
WDC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so WDC is lagging the market slightly.
In the last month WDC has a been trading in the 54.60 - 66.83 range, which is quite wide. It is currently trading near the high of this range.
WDC has an average volume of 6677850 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that WDC is one of the better performing stocks in the market, outperforming 89% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
Besides having an excellent technical rating, WDC also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
63.38
66.81
When analyzing the support we notice one important area.
- A support zone ranging from 64.02 to 64.81. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
We found 1 important resistance area.
- Resistance @66.15 from a horizontal line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for WDC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WDC is up. |
| ChartMill Relative Strength | 89.16 | POSITIVE | WDC has a high relative strength, it outperformed 89.16% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WDC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WDC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of WDC is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 77.15 | OVERBOUGHT | The high RSI value suggests WDC may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.18 | NEGATIVE | The MACD value suggests WDC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 81.17 | OVERBOUGHT | The high Stochastics value suggests WDC may be overbought. |
| Average True Range in percent/ATR (20) | 2.38 | MEDIUM VOLATILITY | The ATR as a percentage value for WDC suggests some volalility. |
| Average Directional Index/ADX (14) | 57.29 | POSITIVE | The high ADX value value for WDC suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 66.16 | 64.01 | 2.15 (3.25%) | 25.00% |
| An entry @66.16. This is a Buy Stop order right above the resistance zone. | An exit @64.01. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.15 points, which is 3.25%. | For a 0.81% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of WDC. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
66.14
+1.08 (+1.66%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryTechnology Hardware, Storage & Peripherals
Performance
% Chg1.66%
1 Week0.09%
2 Weeks4.14%
1 Month18.81%
3 Month92.27%
6 Month5.28%
12 Month-16.03%
2 Year55.4%
3 Year34.7%
5 Year53.46%
10 Year-23.15%
15 Year150.63%
Volatility
ATR(14)1.52
ATR(20)%2.38%
ATR Inc18%
Range Today2.4
ADR(20)1.5
ADR(20)%2.27%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS89.16
Mansfield0.42
10 Day High66.83
10 Day Low62.65
20 Day High66.83
20 Day Low54.6
52 Week High80.09
52 Week Low28.83
CS1 End64.81
CR1 Start66.15
Volume & EV
DER(3)1.97%
DER(5)1.06%
Volume5.34M
Volume Incr-1.84%
Vol(5)6.48M
Vol(50)6.68M