WDC breaks below 200-day moving average
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.
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.
After moving higher in the previous session, the share closed lower but above the prior day's open today, forming a bearish Harami Candle.
After spiking up to 87.71 during the day, the market found resistance at the 100-day moving average at 87.36.
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.
While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Western Digital
|Close to R1 Resistance||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Bearish Spinning Top||TQ Pro Members Only|
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