Western Digital Looks to Continue to Trade Below its Annual-Low Share Price Today
Shares of Western Digital (NYSE:WDC) traded today at $35.36, breaking its 52-week low. Approximately 1.7 million shares have changed hands today, as compared to an average 30-day volume of 6.6 million shares.
Potential upside of 166.8% exists for Western Digital, based on a current level of $35.89 and analysts' average consensus price target of $95.77. Western Digital shares should first meet resistance at the 50-day moving average (MA) of $45.22 and find additional resistance at the 200-day MA of $61.37.
In the past 52 weeks, Western Digital share prices have been bracketed by a current low of $35.36 and a high of $99.93 and are now at $35.89. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 0.8%.
Western Digital Corporation designs and manufactures hard drives for desktop computers and home entertainment applications.
SmarTrend recommended that its subscribers protect gains by selling shares of Western Digital on April 5th, 2016 by issuing a Downtrend alert when the shares were trading at $44.86. Since that call, shares of Western Digital have fallen 18.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows western digital