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Downtrend ResistanceArchive
- 10/11/2024 -
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Western Digital (WDC) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :  
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| | It was the negative week for the Western Digital (WDC). During the week, the WDC dropped -1.47 points, or -2.22%, and closed at 64.88 on Friday, October 11, 2024. Weekly volume was -36% below average.
 Long-term trend: [See WDC long-term trend chart]
A long-term uptrend had started on December 22, 2022 at 29.73 and reached 81.55 on June 18, 2024. WDC gained -51.82 points, or -174.30%, in 77 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 41.93 and resistance is at 89.97. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See WDC medium-term trend chart]
A medium-term downtrend had started on June 18, 2024 at 81.55 and reached 52.77 on August 5, 2024. WDC lost 28.78 points, or 35.29%, in 6 weeks. The price is now at the 42.08% retracement level.
 Weekly Technical Indicators: [See WDC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since July 5, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See WDC short-term trend chart]
A short-term uptrend had started on August 5, 2024 at 52.77 and reached 71.43 on September 26, 2024. WDC gained -18.66 points, or -35.36%, in 52 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (68.10) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. WDC may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See WDC daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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