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Downtrend ResistanceArchive
- 9/15/2023 -
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Western Digital (WDC) Technical Analysis
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| Summary:
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| | It was a first positive week for the Western Digital (WDC). During the week, the WDC climbed 0.13 points, or 0.30%, and closed at 43.60 on Friday, September 15, 2023. Weekly volume was -25% below average.
WDC is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See WDC long-term trend chart]
A long-term downtrend had started on June 4, 2021 at 78.19 and reached 29.73 on December 22, 2022. WDC lost 48.46 points, or 61.98%, in 80 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (18.07) is broken. A broken support is considered to be a long-term bullish signal. 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 resistance line in a long-term trend.
 Medium-term trend: [See WDC medium-term trend chart]
A medium-term uptrend had started on April 25, 2023 at 31.97 and reached 46.33 on September 5, 2023. WDC gained -14.36 points, or -44.92%, in 19 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 40.41 and resistance is at 46.75. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See WDC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since May 12, 2023. This is an indication that the medium-term trend is up. 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 25, 2023 at 38.85 and reached 46.33 on September 5, 2023. WDC gained -7.48 points, or -19.25%, in 11 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See WDC daily technical indicators chart]
Daily technical indicators are neutral.
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 fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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