After an extremely disappointing earnings, the stock fell almost 10% in 1 day. In the next few days we quickly returned to the downtrend, which has been going on for several months. And at the moment I don't think there's any strong upside, so I think at least until the next earnings report the stock will decline further. Short @ $57-58, TP $48-40, SL $61.
Falling Wedge on the 4H chart
+ MACD curling positive
+ Inverted Hammer and Bullish Engulfing to confirm reverse of downtrend
+ Closed above the 9EMA
+ Bullish option flow
1. Around 52 it acts as a 50% fibo level
2. RSI is already showing divergence
however price can dip to 52 area and then a push higher to 60 area
3. We already see higher volumes which can be a sign of accumulation
WDC has earnings this afternoon and is not to long entry level. Trading at earnings can be a crap shoot )o:
Tough to buy around or at earnings day.
No recommendation
The 200 looks good and is sloping up. The 50 does not look so hot and may be trying to cross down through the 100 which would be a bearish cross.
Hard to really look at charts at earnings...
Playing around with some newly discovered indicators & have been learning ways to strategize from these indications.
I am also using indicators I have plenty of experience with.
Let me break down each indicator & then I will discuss my personal strategy for this stock.
Indicators:
I. RSI which is showing price to be underbought
II. Divergence+ shows a...
A speculative entry in WDC, since I await good news from micron, which may push WDC up again.
Target could be new highs, since expected EPS on 29.7 is very high, so the stock should rise now.
WDC has formed very nice cup and handle pattern and started to move higher, breaking resistance zone which is 73.00 on heavy volume. The trading strategy for now is to buy and hold (stop loss 68.00), possibly it will retest the broken resistance. In case of retest I will provide an update.
The TA is exellent for this stock and fundamentals as well, because CHIA...
Bullish channel break potentially on earnings.
Alert set $73.50 for entry
PT's $76.59 & $79.74
The stock has failed to rally on previous beats so caution needed on size of trade.
I have changed up how to best display projected movement. In the case of WDC, 5 of my algorithms signaled a BUY on March 23, 2021. Equities nearly always obey the signal and move up, but sometimes it may continue to move down first.
I have placed two red boxes and two green boxes on the chart. The larger red box depicts all of the historical movement, from a...
center stage attention
stock
our system found that WDC received most attention over the course of last week.
comment image
we see a moderate positive correlation with our image indicator. We therefore assume that prices are driven partial emotionally as there is probably some other catalyst with regard to the company resulting in an uncertain pricing.
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![WDC: the b[AI]te's weekly insights -- WDC 2021-03-22](https://s3.tradingview.com/l/lntKbOZm_mid.png "the b[AI]te's weekly insights -- WDC 2021-03-22")
