I share my longterm expectation of this trade. Memory prices stabilizing. This could bring great gains for this stock in the longterm view. I am in this trade for a long time. But for those who are not in this trade yet...we got a pinbar on the 4H, which is first good sign for the entry if you still hesitate. You can also wait for the daily candle confirmation.
WDC ran speculatively out of a retest of its recent short-term bottom. A gap series formed with an exhaustion gap below resistance from the failed attempt to complete the bottom.
WDC is completing a bottom formation ahead of its earnings report due out later this month. The bottom has a shift of sentiment pattern seen in volume-based indicators. Candlesticks show pro traders are controlling the stock price as some smaller funds sell out as the bottom completes.
Oversold into support zone. TARGET 1: $49 TARGET 2: $53
Predicting price to drop slightly more to the targeted area, around $43 before rebounding, with the upper target being around $60. On the weekly, we met the same strong support of $35 in Dec 2018 as we did in 2016. We topped out just under $54 just as we did in the rebound from 2016. After topping in 2016, we pulled back to about $43 before soaring up to about...
WE WERE AND STILL ARE BULLISH ON MICRON BUT... OUR AVERAGE COST WAS DOWN TO AROUND $30.77 AFTER LOWERING OUR COST FROM THE HIGHER PRICES WE PAID, UPWARDS OF $59 A SHARE THE STOCK WENT UP OVER 10 POINTS WITHIN A SHORT PERIOD OF TIME NOW, THE NEGATIVITY RETURNS TO THE CHIP SECTOR FROM DOGS LIKE NVIDIA...WE MENTIONED IN A PREVIOUS POST NVIDIA WAS A BUBBLE AND NOW...
At least goes back to the 50% mark, but first the $50 area? There was some nice divergence down at the bottom.
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...
The 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.
Folks, Fake News has Micron Bankrupt while other companies that depend on Micron products, Microsoft, Apple, Google, Amazon, Facebook, Twitter, Data Storage Services, in fact, the entire Technological Infrastructure depends on Memory and Storage to work so if Micron sales are forecast to sink by FAKE NEWS, the entire technology industry will crash with it...
MICRON is a screaming bargain at current levels with or without a sales decline, with or without an over supply, etc.. WE ARE RAISING OUR POSITION TO 1,000,000 MILLION SHARES We are taking a good guess that we will see Capitulation soon with people panicking and running for the doors for NO GOOD REASON! When you look at the hype surrounding AMD, trading approx....
The 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.
I just took a look at this garbage company and its bleak earnings release, I WAS SHOCKED AT THE STOCK PRICE COMPARED TO THE MONSTERS MICRON, WESTERN DIGITAL, INTEL AND MANY MORE! PALO NETWORKS IS TRADING AT $220 ... OMG! ... AND ... AFTER HOURS UP $12.00 ON A NEGATIVE EARNINGS REPORT..? YES, THESE STOCKS ARE BUBBLES AND WALL STREET COMPANIES LIKE MICRON SHOULD...
Not calling this the bottom, but I do like the "reversal" candle it printed and seems to be finding support over here.
Falling out of favor! Taking a step back and waiting for support.
This 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.