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WDC breaks below 200-day moving average


Technical Analysis Report for WDC - May 17, 2018 [< 1 min read]
Highlights
WDC breaks below 200-day moving average
WDC closes below its opening price unable to hold early session gains
WDC fails to close above 100-day moving average
WDC closes within previous day's range
WDC ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

WDC ended Thursday at 86.52 losing $0.50 (-0.57%). Trading $0.95 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for WDC
Volatility

Thursday's trading range was $2.01 (2.32%), that's slightly below last trading month's daily average range of $2.67. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.

Price Action

After moving higher in the previous session, the share closed lower but above the prior day's open today, forming a bearish Harami Candle.

Support/Resistance

After spiking up to 87.71 during the day, the market found resistance at the 100-day moving average at 87.36.

Trend

Western Digital shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. WDC broke below the 200-day moving average at 86.61 today for the first time since April 27th.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bearish Bounce off SMA 100 TQ Pro Members Only
Bearish Break through SMA 200 TQ Pro Members Only
Bearish Harami Candle TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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