09/05/2017 WDC Long swing/intraday plan

WDC has been on a strong reversal uptrend bouncing off the 200MA advancing from $82 to $92 from mid to late August under the speculation of Toshiba acquisition. The uptrend endured a minor set back last week when AAPL came into the play to compete with the buyout. However, late in the week, news of collaboration with NINTENDO Switch to make memory unit allow WDC to hold support at $87 and it broke back above $90 closing strong on Friday 09/01/2017. The stock advanced $10 and only retraced to $4 or less which is less than 50% suggesting that the uptrend is intact. The uptrend should continue based on fib and elliot wave theory. For 09/05/2017, here's what to look for. If WDC opens towards $90 support, try to buy on dip near low $90, pre $90.50. The break out above $91 should be significant as it breaks above recent highs for continuation towards $100. For swing traders look for entry near low $90s high $89. If $90 holds for tomorrow, WDC bulls should be very encouraged. Should be good action for day and swing traders for this ticker. If $90 is violated and WDC head towards $87 again, wait.
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