After Yesterday's Rally of 1.79% Shares Could Potentially Pullback
Western Digital (NYSE:WDC) traded in a range yesterday that spanned from a low of $39.50 to a high of $40.85. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $40.37 on volume of 2.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 11.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Over the past year, Western Digital has traded in a range of $34.99 to $99.93 and is now at $40.40, 15% 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%.
Keywords: rebounders western digital