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After Yesterday's Decline of 4.75%, Western Digital Offers Investors Better Value

By Amy Schwartz

Western Digital (NASDAQ:WDC) traded in a range yesterday that spanned from a low of $45.21 to a high of $47.26. Yesterday, the shares fell 4.8%, which took the trading range below the 3-day low of $47.32 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Western Digital has traded in a range of $40.58 to $106.96 and is now at $45.34, 12% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.2% while the 200-day MA has slid 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Western Digital on June 8th, 2018 by issuing a Downtrend alert when the shares were trading at $82.00. Since that call, shares of Western Digital have fallen 42.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders western digital

Ticker(s): WDC