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SmarTrend Watching for Potential Rebound in Shares of Western Digital After 1.68% Loss

By Amy Schwartz

Western Digital (NASDAQ:WDC) traded in a range yesterday that spanned from a low of $64.91 to a high of $65.97. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $65.30 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Western Digital share prices have been bracketed by a current low of $65.03 and a high of $106.96 and are now at $65.07. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 2%.

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 19.4%. 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