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Bearish Moving Average Cross by Western Digital (WDC)

By James Quinn

Western Digital (NYSE:WDC) shares have crossed bearishly below their 10-day moving average of $47.77 on a volume of 1.4 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Western Digital has traded in a range of $34.99 to $99.93 and is now at $47.19, 35% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 0.8%.

SmarTrend recommended that subscribers consider buying shares of Western Digital on May 24th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.74. Since that recommendation, shares of Western Digital have risen 15.4%. We continue to monitor WDC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses western digital

Ticker(s): WDC