The recent break of the long term trend at $96 to $78 was the start of the A=B down trend. The retracement to C at $92.17 confirms that the stock is headed to $74 where it will find support at the 1.27 FIB. Short or buy a Bear Put
- Symmetrical Triangle - MACD Turned Positive - Target 1: $110 - Target 2: $120
There's a bullish triangle, so we could have another upward impulse pretty soon.
ER on Thursday --Im not a fan of their daily chart at all. So I zoomed out to their weekly chart. Not too sure I would take an entry into this one simply due to the way that their daily is looking -GMMA shows traders compressing, thus agreeing on price
News today about Toshiba preferring a bid from Western Digital over its competitors drove this stock up over 4% midday (from -2.5% to up 1.8%) in a matter of minutes. This price action was sustained throughout the day and the daily candle was able to keep above resistance. This heavy volume, in combination with the downward trend being broken, on the price and...
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...
Watch for breakout or breakdown. MACD turned up
Will WDC bounce off the 200 MA or crack below it? We will see next week. Either way can off a nice trade.
WDC is holding at a very interesting volume level, SMA's crossover is not making the stock to go down. Volume produced by technical investors is being used to grab long positions and ride the upward trend. That being said..... LONG LONG
Watch when price would finally breakdown the trendline support. MACD shows huge divergence with the price. Risk 115.05/Target 38.70 (highlighted with the dashed lines)
The trend is definitely your friend in WDC. 163 price target of extension. Very deep wave 2. Excellent dividend to boot. Could be a game changer added to a long retirement portfolio. Digital media storage is not going anywhere for the foreseeable future as Euclidian Physics still dominates Moores Law. When the Qbit becomes common place - reassess this...