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SmarTrend Watching for Potential Rebound in Shares of Western Digital After 4.75% Loss

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.

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.

In the past 52 weeks, shares of Western Digital have traded between a low of $40.58 and a high of $106.96 and are now at $45.34, which is 12% above that low price. The 200-day and 50-day moving averages have moved 1% lower and 2.24% lower over the past week, respectively.

Keywords: rebounders western digital

Ticker(s): WDC